Horsehead Holding Corp. (Nasdaq: ZINC) (“Horsehead”), today announced
that its zinc oxide subsidiary, Zochem, Inc. plans to open a zinc oxide
distribution and service center in 2014 to serve the growing market in
the Southeastern region of the U.S.
This move would augment the company’s existing U.S. warehousing and
distribution network, providing additional value to its long-standing
relationships with its strategic zinc oxide customers. “Our ability to
supply customers through our network of outside warehouse and
distribution centers is a key service advantage of Zochem. Customers
will have the choice of shipping directly from Brampton in Ontario,
Canada, or from a warehouse in the Southeastern U.S. which will provide
associated inventory management benefits,” said Horsehead CEO, Jim
Hensler, adding “this is something many customers have expressed
interest in and we now have the scale and expertise to provide it.”
Horsehead has facilities in South Carolina, North Carolina, and
Tennessee and plans to use one of those locations for this warehouse.
About Horsehead
Horsehead Holding Corp. (“Horsehead”) (Nasdaq: ZINC) is the parent
company of Horsehead Corporation, a leading U.S. producer of specialty
zinc and zinc-based products and a leading recycler of electric arc
furnace dust; The International Metals Reclamation Company (“INMETCO”),
a leading recycler of metals-bearing wastes and a leading processor of
nickel-cadmium (NiCd) batteries in North America; and Zochem Inc., a
zinc oxide producer located in Brampton, Ontario. Horsehead,
headquartered in Pittsburgh, Pa., employs approximately 1,100 people and
has production and/or recycling operations at seven facilities located
in the U.S. and in Canada. Visit www.horsehead.net
for more information.
Cautionary Statement about Forward-Looking Statements
This press release contains forward-looking statements, including
statements about business outlook, future operating levels and
liquidity, proposed initiatives and strategy, financial and performance
targets and statements about historical results that may suggest trends
for our business. These statements are based on assumptions, estimates
and information available to us at the time of this press release and
are not guarantees of future performance. There are several factors that
may cause our actual results to differ materially from the
forward-looking statements, including, among others, the impact of
future market conditions or unexpected production disruptions, including
labor disruptions associated with the wind down of our Monaca facility,
on our results of operations, our future operating costs and production
levels and our expansion plans and initiatives, our ability to
successfully implement and maintain past and future price increases, our
ability to achieve the benefits we expect to achieve from the new zinc
plant once fully operational, the ultimate cost to construct and start
up the Mooresboro plant and our ability to pay these costs and maintain
adequate liquidity, and the success and timing of the start up of our
Mooresboro plant and our expansion plans and initiatives and their
impact on our future capabilities, capacity and production costs and our
financial results. Our actual results, performance or achievements could
differ materially from those expressed in, or implied by, the
forward-looking statements. We can give no assurances that any of the
events anticipated by the forward-looking statements will occur or, if
any of them does, what impact they will have on our results of
operations and financial condition. You should carefully read the
factors described in the “Risk Factors” section of our filings with the
Securities and Exchange Commission for a description of certain risks
that could, among other things, cause our actual results to differ from
these forward-looking statements. All forward-looking statements are
qualified in their entirety by this cautionary statement, and we
undertake no obligation to revise or update this earnings release to
reflect events or circumstances after the date hereof.
Copyright Business Wire 2013