Koppers Holdings Inc. (NYSE:KOP) Q3 2020 Earnings Conference Call - Final Transcript

Oct 26, 2020 • 11:00 am ET


Koppers Holdings Inc. (NYSE:KOP) Q3 2020 Earnings Conference Call - Final Transcript


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Leroy M. Ball

down 21% compared to the same point last year. That's truly a testament to the hard work of our plant management and our employees. I can't thank them enough for their commitment to remain focused despite an extremely challenging year on proactive safety engagements such as safety observations and hazard identification.

Our safety performance continues to be augmented by ongoing training and an emphasis on building a more empathetic leadership team. In November, we will be convening members of our management team from around the world, including plant managers and support staff leaders for our virtual Zero Harm forum. This is to replace the in-person form that was scheduled to occur back in April that was unfortunately canceled like almost everything else this year. We do not want to wait until we can safely reconvene our site leadership group, so we're figuring out a way to adapt to the times. This online event will be live and interactive scheduled for two-hour sessions over three days and we'll build on the progress we've made in advancing our Zero Harm safety culture by sharing information and generating meaningful dialog about incorporating more inclusive and sustainable business practices across all parts of our organization. And although it will be virtual, I'm certain that the forum will be as valuable as ever.

Moving on to our presentation as shown on Slide 4, the U.S. Cybersecurity and Infrastructure Security Agency or CISA within the Department of Homeland Security maintains its classification of Koppers as an essential business, meaning that we can continue to operate during the pandemic, in order to help with transporting critical goods, providing power and connectivity to home and businesses, and keeping our infrastructure running reliably. Across our organization, the people of Koppers are proud to do our part to support the global economy.

Looking at employee health and well-being on Slide 6, to date, we have had 72 employees worldwide who have tested positive for COVID-19, which represents approximately 3% of our employee population. On a cumulative basis, four of our facilities have had cases that were the result of being transmitted on site, and while we continue to be diligent ensuring the proper safety measures and thoroughly cleaning and disinfecting any affected areas, currently 20 employees are self-quarantining, and cumulatively, approximately 37% have self-identified with symptoms at some point in time. Consistent with national worldwide trends, we've had an increase in cases most recently, and we continually look for ways to reinforce our messaging around the importance of not letting our guard down and continuing to practice safe behaviors. Our strict protocols governing personal protection and processes continue to be in place, including the introduction of self-administered saliva testing kits for field and office personnel, reducing the time needed to get results by -- at a minimum of full day. Also, we recently conducted a flu clinic for employees at our headquarters in Pittsburgh and are in the process of scheduling flu clinics at other locations in our site network