Companies show interest in Horsehead

NEW YORK (Aug. 26)—Several companies have expressed interest in purchasing the operating assets of Horsehead Industries Inc., the parent of Zinc Corp. of America (ZCA). Horsehead has been protected under Chapter 11 of the U.S. Bankruptcy Code for the last year and is in the midst of discussions with possible buyers, according to Jack Bechdel, the firm's director of human resources. The company's ZCA subsidiary is a manufacturer of zinc oxide, used to help activate the accelerators in the curing of rubber. Horsehead is waiting to see which company files an asset purchase agreement that, once approved by the bankruptcy court, sets the stage for an auction of Horsehead's operating assets. U.S. Zinc Corp., a subsidiary of IMCO Recycling Inc., and Sun Financial Partners Inc., an investment firm, are two companies that have shown an interest in acquiring the company.