Schnitzer Steel

#5038

Rank

$841.01M

Marketcap

United States

Country

Leadership team

Ms. Tamara L. Lundgren J.D. (Chairman, Pres & CEO)

Mr. Stefano R. Gaggini (Sr. VP & CFO)

Mr. Richard D. Peach (Exec. VP & Chief Strategy Officer)

Products/ Services

Manufacturing, Mining

Number of Employees

1,000 - 20,000

Headquarters

Portland, Oregon, United States

Established

1906

Company Registration

SEC CIK number: 0000912603

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

SCHN

Social Media

URL

https://www.schnitzersteel.com

Overview

Location

Recognition and Award

References

Summary

Schnitzer Steel Industries, Inc. recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys. The company also procures salvaged vehicles and sells serviceable used auto parts from these vehicles through its 51 retail self-service auto parts stores, 54 metals recycling facilities, and an electric arc furnace steel mill. In addition, it produces various finished steel products using ferrous recycled metal and other raw materials, as well as semi-finished goods, which include billets; and finished goods consisting of rebar, coiled rebar, wire rods, merchant bars, and other specialty products. Further, the company sells catalytic converters to specialty processors that extract the nonferrous precious metals, including platinum, palladium, and rhodium; and ferrous and nonferrous recycled metal products to steel mills, foundries, refineries, smelters, wholesalers, and recycled metal processors, as well as finished steel customers, such as steel service centers, construction industry subcontractors, steel fabricators, wire drawers, and major farm and wood products suppliers. Schnitzer Steel Industries, Inc. was founded in 1906 and is headquartered in Portland, Oregon.

History

Schnitzer Steel was founded by Russian immigrant Sam Schnitzer in 1906 as a one-person scrap metal recycler. Between 1947 and 1950, his son, Harold Schnitzer, worked at the company.In 1993, Schnitzer Steel became a public company via an initial public offering. In January 2003, the company acquired Pick-n-Pull. In October 2005, it acquired GreenLeaf Auto Recyclers, which was sold in 2009, and 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.Tamara Lundgren became the chief executive officer, and John Carter became chairman in November 2008.In January 2010, the Schnitzer family sold their 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, and Ferrill’s Auto Parts of Seattle.In 2013, the company moved its headquarters to downtown Portland, Oregon.

Mission

At CMC, we are committed to being a low-cost, high quality metals recycler, manufacturer and fabricator.

Vision

Our vision is to be the global leader in metals recycling and steel manufacturing, striving to maximize the value of our metals while improving people’s lives in the process.

Key Team

Mr. Michael R. Henderson (Sr. VP & Pres of Operations)

Mr. Steven G. Heiskell (Sr. VP & Pres of Products and Services)

Mr. James Matthew Vaughn (Sr. VP, Gen. Counsel & Corp. Sec.)

Mr. Mark Schuessler (VP & Chief Accounting Officer)

Mr. Robert Stone (VP of Corp. Devel.)

Mr. Michael Bennett (VP of Investor Relations)

Mr. Erich D. Wilson (Sr. VP, Chief HR Officer & Chief of Corp. Operations)

Recognition and Awards

Schnitzer has been awarded multiple awards over the years, including being listed on Fortune's list of the 100 Fastest-Growing Companies and being included in the S&P 500 index.