Koppers Inc. has signed an agreement to acquire Cox Industrial for $200 million in cash. Cox Industrial manufactures and distributes power distribution and transmission poles, pilings and related products to investor-owned utilities, electric cooperatives and municipalities. The acquisition advances Koppers' strategy to become a "vertically integrated, high-value global supplier of wood-based technologies to infrastructure markets," company officials said in a press release. Koppers had exited the utility pole market in January 2015. However, the opportunity to re-enter the market with a "growth-focused management team" and the scale to compete was "attractive and compelling," said Koppers President and Chief Executive Officer Leroy Ball.
CSX has ordered Protran Technology's collision avoidance system (CAS) for installation on several hundred of its railway track machines. The system uses a radio solution to provide consistent distance measurements and alerts to other vehicles in the area. The CAS is expandable to provide protection to workers, as well as warnings for end of work zones. All safety interactions are recorded for review, Protran officials said in a press release. Financial details of CSX's order were not disclosed.