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  • Bankrupt US zinc recycler Horsehead lost another $10.1 million in June
    来源: 发布日期:2016-08-13 22:09:44 发布者: 共阅752次 字体:
    US zinc recycler Horsehead Holding Corp lost a further $10.1 million in June, extending its total net losses to nearly $64 million since it filed for Chapter 11 federal bankruptcy reorganization February 2, a new court filing shows. 

    The Pittsburgh-based company told the US Bankruptcy Court for the District of Delaware on Thursday its International Metals Reclamation Co. (Inmetco) subsidiary in Elmwood, Pennsylvania, posted a modest profit of $273,000 in June. 

    Meanwhile, its Zochem subsidiary in Ontario, Canada, lost $89,000 in June after a loss of $27 million in May. 

    Horsehead reported net sales of $21.9 million in June, compared with $26.5 million in May. The companys total net sales were about $127 million from February 2 through June 30, while cost of sales was about $130 million. 

    At the end of June, Horsehead had $16.8 million of cash and cash equivalents on hand and net inventories of $25.9 million. 

    The disposition of Horseheads idle zinc plant in Mooresboro, North Carolina, remains a key focus of both the company and its creditors as Horsehead continues through bankruptcy. 

    Horsehead has described the $550 million plant as having virtually no value and asserts it would take three years and at least $117 million more to restart the facility and get it running at nameplate capacity of about 155,000 tons a year.
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