Horsehead Holding Corp. said investments in zinc oxide
subsidiary Zochem Inc. and a new zinc smelting plant in
Mooresboro, N.C., will pay off when both projects are completed
by the end of this year.
Horsehead doubled its net earnings at Zochem in the second
quarter and posted a 20-percent increase in zinc oxide
production compared with the first three months of this year,
vice president and chief financial officer Robert Scherich said
during an earnings conference call Aug. 5.
received a building permit to begin a $15-million expansion at
the facility in Brampton, Ontario, and expects to increase
production to an annual rate of 72,000 tons by the end of 2013,
Zochem said late last
month that it expects prices to rise on base and specialty
grades of zinc oxide products through the second half of 2013
and into 2014 (
amm.com, July 31).
hopefully carries through contract negotiations for next year,"
Scherich said. "There have been some cost increases in the
market for higher prices in metal, and with the reduction in
output next year there will be a tightening in the market so
the market will support another price increase."
The company announced
a price increase of up to 10 cents per pound last year (
amm.com, Sept. 5).
Horsehead also expects
to complete its new zinc smelter in Mooresboro at the end of
this year, with its lead and silver recover circuit starting up
in 2014, president and chief executive officer Jim Hensler
said. The company expects to hire 45 people by the end of the
week to start training for work at the new facility.
facility will replace the companys smelter in Monaca, Pa.
The company has started to reduce supply orders and allowed
staff to decrease as employees leave in anticipation of the
sites closure at the end of the year, the company