Horsehead Holding Corp. (Nasdaq:ZINC) (“Horsehead”), today announced that its Horsehead Corporation and Zochem Inc. subsidiaries plan to raise prices on their zinc oxide products in 2013 and allocate production capacity to their higher margin customers.
“We are making this announcement today to give our customers sufficient prior notice of this expected price increase,” said Jim Hensler, President & CEO. Premiums are expected to increase by at least $0.10 per pound for contract business, depending on the market, with some price differential likely between contract and spot business.
In addition, because the extent of and exact timing for idling zinc oxide production capacity at the Monaca, Pennsylvania facility has not yet been determined, the company will only be entering into a limited number of annual contracts or other long term commitments for specific quantities in 2013. “We will be making commitments on a quarter-by-quarter basis commencing with the first quarter of 2013, and while we plan to expand capacity at Zochem, that will be more than offset by the eventual reduced capacity when the Monaca refinery shuts down.” added Hensler.
About HorseheadHorsehead 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 1,150 people and currently has seven production and recycling facilities throughout the U.S. and Canada. Visit www.horsehead.net for more information.