Intermet reports $10.98 million November loss

By Jeff Pines

Washington, Dec. 20 - Intermet Corp. reported a $10.98 million loss on revenues of $54.52 million in November, according to its monthly operating report filed with the Securities and Exchange Commission Monday.

Intermet recorded an $8.5 million loss for October on revenues of $58.75 million.

The operating loss for the company was $8.41 million, compared with an operating profit of $99,000 in October.

Cash and equivalents at the end of November were $5.33 million compared with $38.97 million in October.

Based in, Troy, Mich., Intermet produces ductile iron, aluminum, magnesium and zinc castings for the automotive and industrial markets.

Intermet filed for bankruptcy on Sept. 29 with the U.S. Bankruptcy Court for the Eastern District of Michigan. Its Chapter 11 case number is 04-67597.

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