Horsehead Holding Corp. recently filed a report with the Security Exchange Commission announcing that it is seeking to begin issuing stock.
The company expects to sell around 5.55 million shares of stock at a price, possibly between $18-$20 a share. The company posted the regulatory filing July 27th.
In its filing, Horsehead, headquartered in Pennsylvania, noted that it is producer of specialty zinc and zinc-based products with production and/or recycling operations at six facilities in five states. Further, the company owns and operates on its premises a 110 megawatt coal-fired power plant that provides us with a cost-competitive source of electricity and allows the company to sell about one-third of its capacity into the Pennsylvania-New Jersey-Maryland electricity grid.
The company generally using 100 percent recycled zinc to make its products, including zinc recovered from the company’s four EAF dust recycling operations
Last year the company sold about 315.3 million pounds of zinc products
The company's predecessor, Horsehead Industries Inc., filed for Chapter 11 bankruptcy protection earlier this decade due to low zinc prices, production inefficiencies and legacy environmental costs. An affiliate of Sun Capital Partners Inc. bought the company's operating assets in December 2003.