Horsehead Holding Updates On New Zinc Plant - Quick Facts

(RTTNews) - Horsehead Holding Corp. (ZINC) said it is providing an update on the new zinc plant currently under construction in Mooresboro, North Carolina.

The company said the expcted benefits of the new plant remain unchanged at $90 to $110 million of incremental EBITDA and first zinc production, while slipping slightly from our earlier estimate, continues to be forecasted to occur this year.

With all of the critical processing equipment needed for start-up now on-site and with only a small number of electrical termination drawings for the zinc plant remaining to be completed, the exact start-up date now depends on the productivity of installation resources and the avoidance of significant unforeseen delays during commissioning, Horsehead noted.

Horsehead said estimated project investment has been updated and more precisely quantified which now shows an increase of about $40 million over our previous estimate. This increase is due to increases in final quantities of piping and electrical components, use of additional installation crews to partially offset delays and a contingency factor to cover potential unforeseen installation cost increases for the co-product recovery circuit.