any positives, page-16

Hi All

Intec is not the only one cutting back.

Zinc producer Horsehead Corporation, a wholly owned subsidiary of Horsehead Holding recently announced that it will reduce operations at its zinc smelter in Monaca, PA, by idling one of its six furnaces at the facility in an effort to improve profitability.

"The steep decline in the price of zinc on the London Metal Exchange over the past year, combined with simultaneous increases in energy and transportation costs, requires a proactive approach on our part," said Jim Hensler, Horsehead's President & CEO. "We believe reducing the intake of high-cost secondary feedstock and paring back to a five furnace operation at our Monaca facility along with continuing implementation of our cost reduction strategies will reduce our cost of production as the proportion of our feed from low-cost recycled electric arc furnace dust increases."

Cheers.