PITTSBURGH, July 16 /PRNewswire-FirstCall/ -- Zinc producer Horsehead Corporation, a wholly owned subsidiary of Horsehead Holding Corp. , today announced that it will boost operations at its zinc smelter in Monaca, PA, by re-starting a fifth zinc smelting furnace. Horsehead previously reduced its operations from six furnaces to four in response to the recent economic downturn.
"A recent uptick in orders at a time when our own inventories are low necessitates restarting another furnace at this time. We see this as a positive step resulting in enhanced operating efficiency. It is unclear whether we will be able to maintain this production level for the balance of the year, but we are hopeful that the economy will continue to strengthen in the second half of the year," said Jim Hensler, Horsehead's President & CEO. The Company expects to recall approximately 15 hourly employees.
Horsehead Holding Corp. is a leading U.S. producer of specialty zinc and zinc-based products. Headquartered in Pittsburgh, PA, Horsehead employs approximately 800 people and has seven facilities throughout the U.S. Visit http://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 our ability to recognize anticipated savings from cost reduction measures, our ability to maintain our overall business strategy, and those factors identified under Part II, Item 1A. "Risk Factors" in Horsehead's Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 filed with the Securities and Exchange Commission and available at the SEC's website at http://www.sec.gov/.
Horsehead Holding Corp.
CONTACT: Ali Alavi, Vice President of Horsehead Corporation,
+1-724-773-2212
Web Site: http://www.horsehead.net/
