Horsehead Holding Corp. (Nasdaq: ZINC)
provided a status update on the commissioning of its new plant in
Mooresboro, North Carolina, commenting that commissioning is proceeding
as expected although affected by delays due to the severe weather
conditions during the past few weeks and relatively minor equipment
debugging issues that have arisen during the commissioning process. No
significant issues have arisen from the activities completed to-date. A
further update is expected to be provided when the Company releases
results for the fourth quarter of 2013, currently scheduled to occur on
February 25, 2014.
“We are pleased with the progress made during commissioning and have not
run into anything out of the ordinary beyond a few frozen water lines
due to the severe cold and the typical minor equipment issues which
surface during commissioning. We have begun introducing zinc feedstock
into the process and we expect to charge the system with sulfuric acid
this week, a major milestone in the commissioning process,” said Jim
Hensler, President and CEO.
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 seven facilities throughout the U.S. and 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 2014