Corus Staal BV and Cindu BV, shareholders in Cindu Chemicals BV, on March 1 sold their shares in Cindu Chemicals to Koppers International BV, a wholly owned subsidiary of Koppers Holdings Inc, for an undisclosed consideration.

Cindu Chemicals, a 50:50 JV between Corus Staal BV and Cindu BV, operates a 140,000 tonne per annum tar distillation plant in Uithoorn, in the Netherlands.

Corus release said “Tar processing is not a core activity for Corus and this transaction secures a future for the business outside the company while at the same time ensuring that the coal tar generated at the IJmuiden steelworks will be sold to a stable business partner under a long-term arrangement.”