PITTSBURGH, Dec. 21, 2010 /PRNewswire/ -- Zinc producer Horsehead Corporation, a wholly owned subsidiary of Horsehead Holding Corp (Nasdaq: ZINC), today announced that it has re-started a sixth zinc smelting furnace at its facility in Monaca, PA, returning the smelter to full production. The Company has re-started operations at the refinery, with the ability to produce the full compliment of zinc oxide products, and expects to return to pre-incident zinc oxide production capability at its refinery in early January 2011.
Horsehead previously reduced its operations from six furnaces to five in response to the incident on July 22, 2010 at its zinc refinery that resulted in a shutdown of its zinc oxide production process. Since that time, the Company has made significant changes to improve safety and efficiency.
"Our progress in re-building the refinery remains on schedule," said Jim Hensler, Horsehead's President & CEO. "Horsehead is increasing metal production to supply refinery columns that have started into production. Also, we have expanded our customer base since the incident and expect, given current market conditions, to remain at a six furnace operation level for the foreseeable future," Hensler added.
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, and 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. Horsehead, headquartered in Pittsburgh, Pa., employs approximately 1,000 people and has seven facilities throughout the U.S. Visit www.horsehead.net for more information.
Some of the statements in this press release are forward-looking statements. Forward-looking statements include statements about our future prospects, operating plans, business strategy, commercial relationships and financial performance. Statements that contain words such as " will", "should", "anticipate", "believe", "expect", "intend", "estimate", "hope" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current expectations of the Company. Because forward-looking statements involve inherent risks and uncertainties, the plans, actions and actual results of the Company could differ materially from those described in this release. Among the factors that could cause plans, actions and results to differ materially from the Company's current expectations include future market conditions and demand for our products, and those factors identified under "Risk Factors" in Part II, Item 1A of Horsehead's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010 and Part I, Item 1A of Horsehead's Annual Report on Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission and available at the SEC's website at "www.sec.gov".
SOURCE Horsehead Corporation