As one of the largest metals recyclers in North America, Schnitzer is a leading processor of scrap metal as raw material for new production, a provider of used and recycled auto parts and a manufacturer of finished steel products. We recycle metals ranging from iron and steel to aluminum, copper, lead, stainless steel and zinc. Properly handled, scrap metal is a continuous and valuable resource that can be re-melted and reshaped into new products countless times while providing significant economic and environmental benefits as compared to virgin materials. Schnitzer provides the complete cycle of reuse through its three integrated business units:
- Metals Recycling Business – collects and recycles vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition materials
- Auto Parts Business – buys end-of-life vehicles and sells parts to retail and wholesale customers before supplying the auto bodies to our Metals Recycling Business and other recyclers
- Steel Manufacturing Business – utilizes nearly 100% scrap metal sourced from our Metals Recycling Business to produce high-quality reinforcing steel and wire rod used in new construction
Since our founding in 1906 as a one-man scrap metal operation, Schnitzer has grown into a global leader through a combination of organic capital investments and acquisitions, both of which have enabled state-of-the-art processing, manufacturing and information technologies. Today, Schnitzer operates 110 recycling facilities, including seven deep water ports – on both U.S. coasts and in Hawaii, Puerto Rico – which enable efficient delivery of raw materials to steel mills and foundries around the world. A fundamental driver of our business is the global demand for recycled metal which has been increasing due to advances in processing technologies and significant environmental benefits. We are primarily an exporter of recycled metals, buying scrap metal in North America, processing it for reuse and selling it to steel mills and foundries that are serving high growth markets. From emerging to developed markets, our unique and flexible global platform supports the world's economic growth.
Schnitzer Steel Industries, Inc. has corporate headquarters in Portland, Oregon and has traded on the NASDAQ Stock Market under the symbol SCHN since its IPO in 1993. The company has paid a dividend every quarter since its public listing.
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