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.
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