Horsehead Enters Into Option Agreement With Shell Chemical

Horsehead Corp., a producer of specialty zinc and zinc-based products, has entered into an agreement granting Shell Chemical LP an option to purchase the site of its current zinc production operations near Monaca, Pa. Shell is expected to evaluate the property as a potential petrochemical complex.

“We believe this option provides the best value proposition for Horsehead among the several alternatives we are considering for this site,” says Jim Hensler, Horsehead’s president and CEO.

“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,” Hensler adds. “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.