Horsehead Enters Into Option Agreement With Shell
Horsehead Corporation, a wholly-owned subsidiary of Horsehead Holding Corp. (Nasdaq: ZINC), today announced that it has entered into an agreement granting Shell (NYSE: RDS.A) Chemical LP an option to purchase the site of its current zinc production operations located near Monaca, PA, to evaluate it for a potential petrochemical complex.
“We are moving our zinc production operations to our new plant which is under construction in North Carolina and expected to startup during the third quarter of 2013,” said Jim Hensler, Horsehead President & CEO. Hensler added, “We believe this option provides the best value proposition for Horsehead among the several alternatives we are considering for this site.” The option, if exercised, would require Horsehead to vacate its Monaca site by April 30, 2014.
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