History

Key events in company history:

1906
  • The company that would become Schnitzer Steel is started by Russian immigrant Sam Schnitzer as a one-man scrap business called Alaska Junk Company. Sam started his business buying and selling the scrap metal he could carry on his back as he settled into Portland, Oregon.
1920's – 1930’s
  • Sam Schnitzer’s five sons start taking major roles in the family business.
1946
  • The company is incorporated in Oregon.
  • Sam turns the business over to his sons. Over time, Sam’s sons would grow the company into a successful group of recycling, shipping and real estate businesses
1952
  • Founder Sam Schnitzer dies.
1963
  • Facing challenges booking ships to carry scrap exports, Schnitzer family starts Lasco Shipping Co. to manage and operate a fleet of bulk cargo ships.
1965
  • Schnitzer Steel opens metals recycling facility and deep water port in Oakland, CA.
1970's
  • Schnitzer Steel grows quickly as many new electric arc furnace steel mini-mills requiring scrap are built.
1971
  • Sam Schnitzer’s youngest son, Leonard becomes chairman. He would become CEO in 1973 and remain CEO until 2002 and Chairman until his death in 2003.
1973
  • Schnitzer Steel opens metals recycling facility in Sacramento, CA.
1984
  • Schnitzer Steel acquires Cascade Steel Rolling Mills, Inc., an electric arc furnace steelmaker located in McMinnville, OR (near Portland) originally founded in 1968.
1986
  • Cascade Steel completes rebuild of rolling mill #1.
1989
  • Schnitzer Steel acquires metals recycling facility in Fresno, CA.
  • Schnitzer Steel enters Pick-n-Pull joint venture.
1993
  • Schnitzer Steel becomes a publicly traded company.
  • Schnitzer Steel acquires Sessler, Inc., adding four metals recycling facilities in central and southern Oregon.
1995
  • Schnitzer Steel acquires Manufacturing Management, Inc., including its metals recycling facility and deep water port in Tacoma, WA.
1996
  • Schnitzer Steel acquires Proler International, including its interests in a joint venture with Hugo Neu Corporation.
  • Cascade Steel completes construction of rolling mill #2.
1998
  • Schnitzer Steel and Hugo Neu increase the size of their joint venture partnership by buying out a third partner and completing two other strategic joint venture acquisitions.
2000
  • Schnitzer Steel operates its first mega-shredder at the Tacoma, WA facility.
2003
  • Schnitzer Steel buys out its partner in the Pick-n-Pull joint venture. Pick-n-Pull becomes a wholly owned subsidiary and the first member of Schnitzer’s Auto Parts Business.
2004
  • Cascade Steel completes construction of a new 108-ton electric arc furnace (EAF) in its melt shop.
2005
  • Schnitzer Steel and Hugo Neu Corp end their joint venture. As a result of the agreement, Schnitzer gains full ownership of five metals recycling facilities in Massachusetts, Maine, New Hampshire and Hawaii plus controlling interests in the joint venture’s interest in two Rhode Island facilities. Three of these facilities are located at deep water ports. Schnitzer Steel also gains the portion of the global trading business that operates in the Baltic region; the business is subsequently renamed Schnitzer Global Exchange.
  • Schnitzer Steel expands its Auto Parts Business by acquiring GreenLeaf Auto Recyclers, a full-service chain with 22 locations selling recycled auto parts to wholesale customers.
  • Schnitzer Steel’s Metals Recycling Business expands into the Southeastern U.S. by acquiring Regional Recycling, with nine facilities in Georgia and Alabama.
2006
  • Schnitzer Steel gains full ownership of two Rhode Island metals recycling facilities it previously had controlling interest in.
  • Schnitzer Steel expands its Northeastern U.S. metals recycling presence by acquiring Advanced Recycling with four facilities in New Hampshire.
  • Schnitzer Steel completes installation of mega-shredders at its Oakland, CA and Everett, MA facilities.
  • Schnitzer Steel reports record revenues of $1.85 billion for fiscal 2006.
2007
  • Schnitzer Steel acquires metals recycling facilities in Alaska, Maine, Alabama and Georgia.
  • Schnitzer Steel joins the Fortune 1000 based on fiscal 2006 revenues.
  • Schnitzer Steel completes installation of a mega-shredder at its Portland, OR facility.
  • Schnitzer Steel reports record revenues of $2.57 billion for fiscal 2007.