Schnitzer Names New VP of Operations
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PORTLAND, Ore., May 7, 2003 (BUSINESS WIRE) -- Robert W. Philip,
President and CEO of Schnitzer Steel Industries, Inc. ("Schnitzer")
(Nasdaq:SCHN) announced several key management changes, including the
promotion of Mr. Jay Robinovitz, currently General Manager of
Schnitzer's Tacoma recycling yard as Vice President of Operations, a
newly created position.
In this position, he will assume lead responsibility for all
Pacific Northwest operations, maintenance and marine terminal
operations and assist with company wide operational strategies.
In addition to Robinovitz's promotion, Philip announced that Mr.
Terry Glucoft, currently Vice President of Domestic Ferrous Trading
and General Manager of Schnitzer's Portland yard, will assume full
responsibility for all domestic scrap metal trading.
With 25 years in various business activities, Robinovitz has held
increasingly senior management positions, including the last ten years
with Schnitzer, with the last four years as General Manager of
Schnitzer's Tacoma yard, the largest scrap metal facility and largest
scrap export terminal in Washington State.
In commenting on the promotion, Philip expressed his pleasure at
being able to promote from within the company. "Jay has demonstrated a
strong skill set of both operational know-how related to our plant and
equipment in Tacoma, including running the largest auto shredder in
operation on the west coast, as well as keen sensitivity in developing
good working relations with employees, suppliers, vendors and
customers." Philip went on to say, "we're interested in having Jay
bring this same skill set to providing our yards greater consistency
in how we approach all our equipment operational needs, future
equipment and plant investments and ongoing service and maintenance."
As part of this focused effort at operations, Glucoft will assume
greater responsibilities for all domestic scrap purchases and sales
for the company. Glucoft has been with Schnitzer for over seventeen
years, including almost the past ten years in charge of the Portland
facility.
Schnitzer is one of the nation's largest recyclers of ferrous
scrap metals and a leading manufacturer of finished steel products,
including concrete reinforcing bar, coiled rebar, wire rod, and
structural products. Schnitzer, with its various joint venture
partners, currently processes approximately 4.6 million tons of
recycled metal per year. In addition, the company's electric arc
furnace steel mill has an annual production capacity of 700,000 tons
of finished steel products.
The company's common stock is traded on the Nasdaq Stock Market
System under the symbol "SCHN".
SOURCE: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Tom Zelenka, 503/323-2821
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