Schnitzer Steel Industries, Inc. is a steel manufacturing and scrap metal recycling company headquartered in Portland, Oregon.
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Current operations
Auto and Metals Recycling
The Auto and Metals Recycling division collects and recycles autobodies, rail cars, home appliances, industrial machinery, manufacturing scrap and construction and demolition scrap from bridges, buildings and other infrastructure. It sources from 52 stores which operate under the commercial brand-name Pick-n-Pull. In fiscal 2016, the Auto and Metals Recycling division recycled and shipped 3.3 million tons of ferrous scrap metal and 510 million pounds of nonferrous scrap metal.
In 2016, it sold to customers in 24 countries.
Steel Manufacturing Business
The Steel Manufacturing Business produces finished steel products such as rebar, wire rod, coiled rebar, merchant bar and other specialty products using nearly 100% recycled metal sourced from the Auto and Metals Recycling division. In fiscal 2016, the Steel Manufacturing Business sold 488,000 short tons of finished steel.
History
In 1906, the company was founded by Russian immigrant Sam Schnitzer as a one-person scrap metal recycler.
In 1946, the company incorporated.
Between 1947 and 1950, Harold Schnitzer, the son of the founder, worked at the company.
In 1993, the company became a public company via an initial public offering.
In January 2003, the company acquired Pick-n-Pull.
In October 2005, the company acquired GreenLeaf Auto Recyclers. It was sold in 2009.
In October 2005, the company acquired Regional Recycling, a metals recycling business with 10 locations in the Southeastern United States.
In 2006, the company acquired Advanced Recycling.
In December 2007, the U.S. Securities and Exchange Commission charged former chairman and CEO Robert Philip for violating bribery laws as part of the Foreign Corrupt Practices Act in relation to dealings with Chinese steel mills.
In November 2008, Tamara Lundgren became the chief executive officer and John Carter became chairman.
In January 2010, the Schnitzer family sold shares such that their ownership in the company fell below 20%.
In April 2010, the company acquired Golden Recycling & Salvage, a recycling company in Billings, Montana.
In 2011, the company acquired State Line Scrap Co., a recycling company in Attleboro, Massachusetts.
In 2013, the company moved its headquarters to downtown Portland, Oregon.
Source of the article : Wikipedia
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