A unit of Koppers Holdings Inc., a producer of carbon compounds and treated wood products, said Tuesday it's selling the property and buildings at its wood preserving facility in Gainesville, Fla., to Beazer East Inc.
Financial terms of the deal were not disclosed.
The company said the economic downturn hurt its operations in Gainesville. Koppers operated the facility since December 1988, focusing on the treatment and distribution of utility poles, marine pilings and marine lumber.
Koppers shares rose 42 cents, or 1.5 percent, to end at $28.83 on Tuesday.