Horsehead to close smelter in Monaca
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Horsehead Holding said today it will build a zinc smelter in North Carolina and close its existing smelter in Monaca once the new plant is commissioned.
The announcement ends months of speculation about the plant and the fate of workers in Monaca.
The new plant will cost more than $350 million and will be built in Rutherford County, about 80 miles west of Charlotte.
President and CEO Jim Hensler said the new smelter will be capable of producing more than 150,000 tons of zinc annually. It will lower production costs, reduce emissions and open new markets, he said.
The Monaca smelter has a capacity of 14,000 tons.
Horsehead announced in February is was considering building a new smelter. The metals recycler hired an engineer in June to design the plant.
The company considered a number of sites, including Monaca, Mr. Hensler said. Criteria included electricity costs, logistics and incentives provided by state and local governments, he said.
Construction could be completed as early as the third quarter of 2013.
Horsehead said it will continue non-smelting operations at Monaca, which employs about 600 salaried and hourly workers. The company said it is "exploring alternative uses" for the Monaca plant.
Horsehead received a $300,000 grant in 2005 from Pennsylvania's Department of Community and Economic Development to retain 600 jobs in the state.
First Published September 19, 2011 5:08 pm
