US Zinc recycler Horsehead lose another $10.1 million in June

UNITED STATES July 25 2016 6:27 PM     

NEW YORK (Scrap Register):  Bankrupt US zinc recycler Horsehead lost another $10.1 million in June and has  now extended its total net losses to nearly $64 million since it filed for  Chapter 11 federal bankruptcy reorganization February 2, according to a new  court filing.

International Metals Reclamation Co. (Inmetco), one of the  company's subsidiary in Elmwood, Pennsylvania, posted a modest profit of  $273,000 in June. But its Zochem subsidiary in Ontario, Canada, lost $89,000 in  June after a loss of $27 million in May.

Net sales of $21.9 million has  been reported by Horsehead in June, compared with $26.5 million in May. Total  net sales of the company were about $127 million from February 2 through June 30  ans the cost of sales was about $130 million.