MONACA, PA-Houston-based Shell Chemical Co. and the owner of a zinc plant here report that Shell has extended its option and purchase agreement on the facility.
Horsehead Holding Corp., a wholly-owned subsidiary of Pittsburgh-based Horsehead Corp., and Shell announced the extension of the agreement today. The plant is located approximately 35 miles northwest of Pittsburgh, according to the Associated Press. No financial terms of the possible sales deal were announced.
Horsehead had previously announced plans to shutter the zinc manufacturing plant. Shell is evaluating the facility as a possible ethane cracking plant.
The companies report that the amended agreement provides for the start of demolition activities at the Monaca facility at Shell's expense. Demolition is expected to commence at certain portions of the site in the first quarter of 2014. See story in The Inquirer.
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