[Federal Register Volume 68, Number 51 (Monday, March 17, 2003)]
[Notices]
[Pages 12722-12723]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6242]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of Koppers Inc. (Formerly 
Known as Koppers Industries, Inc.) To Withdraw Its 9\7/8\% Senior Notes 
(Due 2007) From Listing and Registration on the New York Stock 
Exchange, Inc. File No. 1-12716

March 11, 2003.
    Koppers Inc. (formerly known as Koppers Industries, Inc.), a 
Pennsylvania corporation (``Issuer''), has filed an application with 
the Securities and Exchange Commission (``Commission''), pursuant to 
section 12(d) of the Securities Exchange Act of 1934 (``Act'')\1\ and 
rule 12d2-2(d) thereunder,\2\ to withdraw its 9\7/8\% Senior Notes (due 
2007) (``Security''), from listing and registration on the New York 
Stock Exchange, Inc. (``NYSE'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    In making its decision to withdraw the Issuer's Security from the 
Exchange, the Issuer states that: (i) As of January 28, 2003, there 
were approximately 18 holders of the Security, including holders of 
record and those firms that hold the Security through Cede & Co.; (ii) 
based upon the covenants contained in the indenture under which the 
Security was issued, the Issuer will continue to provide to the holders 
of the Security information as if the Issuer were required by law to 
file 1934 Act reports; (iii) the Issuer is not obligated under the 
indenture under which the Security was issued, nor any other documents, 
to maintain a listing of the Security on the NYSE or any other 
exchange; (iv) the Issuer believes that the burden and expense of 
complying with requirements of the 1934 Act, particularly in view of 
certain of the enhanced obligations imposed by the Sarbanes-Oxley Act 
of 2002, upon companies whose securities are listed

[[Page 12723]]

on a national securities exchange, are disproportionate given the small 
number of holders of the Security; and (v) holders of the Security will 
accordingly benefit, to the extent that any cost savings realized by 
delisting improves the cash flow and creditworthiness of the Issuer. 
The Issuer believes that the delisting of the Security should not have 
a material impact on the holders of the Security.
    The Issuer stated in its application that it has met the 
requirements of the NYSE rules governing an issuer's voluntary 
withdrawal of a security from listing and registration. The Issuer's 
application relates solely to the Security's withdrawal from listing on 
the NYSE and from registration under section 12(b) of the Act \3\ and 
shall not affect its obligation to be registered under section 12(g) of 
the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before April 3, 2003, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the NYSE and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-6242 Filed 3-14-03; 8:45 am]
BILLING CODE 8010-01-P