Zochem parent completes Chapter 11 restructuring

Pittsburgh, Pennsylvania – Horsehead Holding LLC, the parent of zinc oxide producer Zochem Inc., said it has emerged from Chapter 11 bankruptcy protection after its reorganisation plan was confirmed by the US Bankruptcy Court for the District of Delaware.

Horsehead said in a statement that the plan eliminates substantially all of the company’s debt; converts about $205 million (€184 million) of senior secured debt into equity in the reorganised firm; provides for the repayment of its debtor-in-possession credit facility; provides for repayment in full…

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