Horsehead logs loss as Pa. facility winds down
Nov 05, 2013 | 10:58 PM
| Daniel Fitzgerald
NEW YORK Horsehead Holding Corp. remained in the red in the third quarter amid higher production costs as it prepares to shut its Monaca, Pa., facility.
The Pittsburgh-based companys net loss of $3.5 million for the quarter ended Sept. 30 fell 61.5 percent from a loss of $9.1 million in the same year-ago period as sales rose 9.2 percent to $109.6 million. However, the loss grew more than fourfold sequentially (amm.com, Aug. 5).
"While shipments of zinc products and (electric-arc furnace) dust receipts strengthened compared with the second quarter of 2013, results during the third quarter were affected by lower production at the Monaca facility as we operated only five of six smelting furnaces for most of the quarter due to the temporary shutdown of two furnaces," Horsehead president and chief executive officer James M. Hensler said during an earnings call.....
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