News Release

Schnitzer Reports Fourth Quarter and Full Year Fiscal 2012 Financial Results

Fourth Quarter Revenues $762 million, Adjusted Diluted EPS $0.10 and Cash From Operations $108 million

Full Year Revenues $3.3 billion, Adjusted Diluted EPS $1.11 and Cash From Operations $245 million

PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 25, 2012-- Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today reported adjusted diluted earnings per share of $0.10, excluding a $5 million pre-tax restructuring charge ($0.12 per diluted share) associated with initiatives announced in August. Including the restructuring charge, the Company reported a loss per share of $(0.02) for the fourth quarter ended August 31, 2012. This compares with diluted earnings per share of $1.31 for the fourth quarter of fiscal 2011. For the 2012 fiscal year, Schnitzer reported full year revenues of $3.3 billion, compared to $3.5 billion in fiscal 2011, and adjusted diluted earnings per share of $1.11, excluding the fourth quarter restructuring charge, compared to $4.23 in fiscal 2011. Including the restructuring charge, reported diluted earnings per share were $0.99 for fiscal 2012. Fourth quarter financial results exceeded the Company's recent market outlook primarily due to the achievement of higher than anticipated operational performance in August in our Metals Recycling and Auto Parts businesses.

Our quarterly financial performance was adversely impacted by a rapid decline in selling prices at the beginning of the quarter while the supply of scrap continued to be constrained by weak US GDP growth. As a result of these conditions, average inventory costs did not decline as quickly as cash purchase costs for raw materials, resulting in margin compression. Average inventory costs adversely impacted consolidated operating income by approximately $30 million compared to the third quarter, with nearly two-thirds of this impact affecting our Metals Recycling Business.


Summary Results
($ in millions, except per share amounts)

	Quarter							Year
	4Q12			3Q12		4Q11		2012		2011		% Chg
Revenues	$	762		$	880	$	1,081	$	3,341	$	3,459	(3	)%

Operating Income (Loss)	$	(1	)	$	22	$	56	$	54	$	186	(71	)%
Restructuring Charges	5			—		—		5		—
Adjusted Operating Income⁽¹⁾	$	4		$	22	$	56	$	59	$	186	(68	)%

Net Income (Loss) attributable to SSI	$	—		$	11	$	37	$	27	$	118	(77	)%
Restructuring Charges, net of tax	3			—		—		3		—
Adjusted Net Income attributable to SSI⁽¹⁾⁽²⁾	$	3		$	11	$	37	$	31	$	118	(74	)%

Net Income (Loss) per share attributable to SSI	$	(0.02	)	$	0.40	$	1.31	$	0.99	$	4.23	(77	)%
Restructuring Charges, net of tax, per share	0.12			—		—		0.12		—
Adjusted diluted EPS attributable to SSI⁽¹⁾	$	0.10		$	0.40	$	1.31	$	1.11	$	4.23	(74	)%

(1) Adjusted for restructuring charges taken in 4Q12. See Non-GAAP Financial Measures for reconciliation to U.S. GAAP.
(2) Numbers may not foot due to rounding

“Amid significant global economic uncertainty and declining prices throughout the year, we delivered strong cash flow and relatively stable volumes, demonstrating the flexibility and resiliency of our platform. Despite the challenging market conditions, we generated $245 million in operating cash flow during fiscal 2012 which enabled us to reduce our net leverage to 18% by fiscal year end while returning capital to shareholders through a significant dividend increase and the repurchase of 1.1 million in outstanding shares," said Tamara Lundgren, President and Chief Executive Officer.

"During the fourth quarter, we undertook initiatives in order to extract greater synergies from the significant investments we made in fiscal 2011, to further integrate our Metals Recycling and Auto Parts Businesses, and to reduce our cost base. We expect to drive $25 million in annualized pre-tax savings through the implementation of these initiatives and the benefits of our more streamlined organization. In fiscal 2013, we will continue to focus on maximizing value through our growth strategy of expanding our Metals Recycling export platform and our Auto Parts business and enhancing performance through advanced technologies, operational synergies and continuous improvement initiatives."

Key business drivers during fiscal 2012:

Metals Recycling Business (MRB) shipped 5.1 million ferrous tons and 629 million nonferrous pounds while continuing to execute our strategy for growth through investment in our Western Canada facilities, achieving higher nonferrous yields and delivering enhanced operational synergies.
Auto Parts Business (APB) focused on maximizing throughput across its 51 locations, generating an 11% operating margin on an aggregate of 339 thousand cars purchased.
Steel Manufacturing Business (SMB) achieved slightly below break-even operating performance.

Metals Recycling Business


Summary of Metals Recycling Business Results
($ in millions, except selling prices; Fe volumes 000s long tons; NFe volumes M lbs)

		Quarter						Year
		4Q12		3Q12		4Q11		2012		2011	% Chg
Total Revenues	$	652	$	787	$	962	$	2,949	$	3,070	(4	)%

Ferrous Revenues	$	485	$	622	$	740	$	2,298	$	2,425	(5	)%
Ferrous Volumes		1,178		1,353		1,534		5,115		5,329	(4	)%
Avg. Net Ferrous Sales Prices ($/LT)⁽¹⁾	$	378	$	424	$	443	$	415	$	416	—	%

Nonferrous Revenues	$	158	$	155	$	213	$	614	$	620	(1	)%
Nonferrous Volumes		169		154		191		629		569	11	%
Avg. Net Nonferrous Sales Prices ($/lb)⁽¹⁾	$	0.90	$	0.97	$	1.08	$	0.94	$	1.06	(11	)%

Operating Income⁽²⁾	$	13	$	18	$	52	$	64	$	165	(61	)%

(1) Sales prices are shown net of freight
(2) Operating income does not include the impact of restructuring charges

Sales Volumes: Ferrous sales volumes of 1.2 million tons in the fourth quarter decreased 13% from third quarter levels, primarily due to reduced flows of raw materials resulting from the lower price environment and unusually hot weather. Nonferrous sales volumes of 169 million pounds increased 10% sequentially, primarily due to the impact of increased shipments in August.

Export customers accounted for 78% of total ferrous sales volumes in the fourth quarter. Our ferrous and nonferrous products were shipped to 18 countries, with Turkey, South Korea and Taiwan the top export destinations.

Pricing: Demand softened in the export markets in early June, driving average ferrous net sales prices in the fourth quarter down $46 per ton, or 11%, from third quarter levels. Nonferrous prices decreased 7% in the fourth quarter sequentially primarily due to lower commodity prices.

Margins: Operating income per ferrous ton was $11 in the fourth quarter of fiscal 2012, slightly below the third quarter. Operating performance exceeded our fourth quarter market outlook due to higher than anticipated nonferrous shipments. Overall, the fourth quarter was impacted significantly by the adverse effect of average inventory accounting and the impact of lower volumes on unit costs, partly offset by improved cash metal spreads generated in the early part of the quarter and reduced SG&A which included a decrease in environmental liabilities of $2 million.

Auto Parts Business


Summary of Auto Parts Business Results
($ in millions)

		Quarter						Year
		4Q12		3Q12		4Q11		2012		2011	% Chg
Revenues	$	72	$	83	$	94	$	317	$	320	(1	)%
Operating Income⁽¹⁾	$	2	$	13	$	17	$	33	$	64	(48	)%

Car Purchase Volumes (000s)		81		89		97		339		353	(4	)%
Locations (end of quarter)		51		51		50		51		50	2	%

(1) Operating income does not include the impact of restructuring charges

Revenues: Revenues in the fourth quarter decreased 14% sequentially primarily due to the impact of falling commodity prices and seasonally lower admissions.

Margins: Operating margins during the fourth quarter were compressed by the significant negative impact from average inventory accounting, as well as effects of falling commodity prices on sales and the seasonal impact of hot weather on admissions. Operating performance exceeded our fourth quarter market outlook due to higher than anticipated ferrous and nonferrous sales volumes.

Steel Manufacturing Business


Summary of Steel Manufacturing Business Results
($ in millions, except selling prices; volume in thousands of short tons)

		Quarter								Year
		4Q12			3Q12			4Q11		2012			2011	% Chg
Revenues	$	90		$	79		$	93	$	333		$	317	5	%
Operating Income (Loss)⁽¹⁾	$	(3	)	$		—	$	2	$	(2	)	$	3	NM

Avg. Net Sales Prices ($/ST)	$	685		$	734		$	721	$	715		$	697	3	%
Finished Goods Sales Volumes		126			103			124		447			439	2	%

(1) Operating income does not include the impact of restructuring charges
NM = Not meaningful

Sales Volumes: Finished steel sales volumes of 126 thousand tons increased 22% from the third quarter and approximated the prior year quarter.

Pricing: Average net sales prices for finished steel products decreased 7% primarily due to the impact on selling prices of decreases in the cost of raw materials.

Margins: Higher volumes were offset by lower selling prices which, combined with unscheduled downtime and an adverse impact of average inventory accounting, resulted in an operating loss of $3 million during the fourth quarter.

Cost Reductions

In August, we announced initiatives targeted to generate greater synergies from our fiscal 2011 investments and to realign our organization by further integrating our Metals Recycling and Auto Parts Businesses, streamlining our corporate functions, and reducing organizational layers. These initiatives are expected to lower annual pre-tax operating costs by $25 million. Total restructuring charges are expected to be approximately $12 million pre-tax. During the fourth quarter, we incurred $5 million of the restructuring charge, or approximately $0.12 diluted earnings per share. We expect to recognize the balance during fiscal 2013. The restructuring charges primarily represent cash costs of $4 million from the elimination of approximately 300 positions, $5 million from contract termination costs, primarily from the consolidation of certain administrative offices, and $3 million of other costs associated with the restructuring.

Corporate Items

During the quarter, the Company generated strong operating cash flows of $108 million. For fiscal year 2012, operating cash flows of $245 million enabled the Company to reduce debt by $69 million to $335 million while investing $85 million in capital expenditures and acquisitions, and returning $45 million to shareholders through share repurchases and higher dividend payments.

The Company's effective tax rate for the fiscal year 2012 was 32.7%. This was slightly lower than the third quarter rate due to state tax benefits in the fourth quarter. Corporate SG&A in the fourth quarter included a reduction in compensation accruals of $2 million.

Analysts' Conference Call: Fourth Quarter of Fiscal 2012

A conference call and slide presentation to discuss results will be held today, October 25, 2012, at 11:30 a.m. EDT hosted by Tamara Lundgren, President and Chief Executive Officer, and Richard Peach, Chief Financial Officer. The call and the slides will be webcast and accessible on the Company's website at www.schnitzersteel.com.

Summary financial data is provided in the following pages. The slides and related materials will be available prior to the call on the website.


SCHNITZER STEEL INDUSTRIES, INC.
FINANCIAL HIGHLIGHTS
(in thousands)
(Unaudited)

		For the Three Months Ended									For the Year Ended
		August 31, 2012			May 31, 2012			August 31, 2011			August 31, 2012			August 31, 2011

REVENUES:

Metals Recycling Business:
	Ferrous sales	$	485,030		$	621,923		$	739,502		$	2,297,580		$	2,425,488
	Nonferrous sales	157,915			155,265			213,115			614,467			619,640
	Other sales	8,864			9,339			9,347			36,660			24,876
	TOTAL MRB SALES	651,809			786,527			961,964			2,948,707			3,070,004

Auto Parts Business		71,662			82,936			93,770			316,884			319,833
Steel Manufacturing Business		90,179			78,623			92,886			333,227			317,483
Intercompany sales eliminations		(51,365		)	(68,221		)	(67,434		)	(257,880		)	(248,126		)
	Total revenues	$	762,285		$	879,865		$	1,081,186		$	3,340,938		$	3,459,194


OPERATING INCOME (LOSS):

Metals Recycling Business		$	13,004		$	17,817		$	51,729		$	63,872		$	164,646
Auto Parts Business		1,611			12,543			16,703			33,304			64,027
Steel Manufacturing Business		(2,683		)	253			1,823			(2,081		)	2,562
	Segment operating income	11,932			30,613			70,255			95,095			231,235

Corporate expense		(8,875		)	(8,751		)	(14,146		)	(37,512		)	(46,394		)
Intercompany eliminations		588			216			146			1,097			1,123

	Adjusted operating income	$	3,645		$	22,078		$	56,255		$	58,680		$	185,964

Restructuring charges		(5,012		)	—			—			(5,012		)	—
	Total operating income (loss)	$	(1,367	)	$	22,078		$	56,255		$	53,668		$	185,964


SCHNITZER STEEL INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(Unaudited)

	For the Three Months Ended									For the Year Ended
	August 31, 2012			May 31, 2012			August 31, 2011			August 31, 2012			August 31, 2011
Revenues	$	762,285		$	879,865		$	1,081,186		$	3,340,938		$	3,459,194
Cost of goods sold	712,434			807,980			966,233			3,079,716			3,072,165
Selling, general and administrative	46,668			50,148			59,931			205,178			205,687
Income from joint ventures	(462		)	(341		)	(1,233		)	(2,636		)	(4,622		)
Restructuring charges	5,012			—			—			5,012			—
Operating income (loss)	(1,367		)	22,078			56,255			53,668			185,964
Interest expense	(2,407		)	(2,729		)	(3,553		)	(11,880		)	(8,436		)
Other income (expense), net	1,097			(154		)	3			1,168			3,277
Income (loss) from continuing operations before income taxes	(2,677		)	19,195			52,705			42,956			180,805
Income tax benefit (expense)	1,830			(7,541		)	(14,203		)	(14,039		)	(57,168		)
Income (loss) from continuing operations	(847		)	11,654			38,502			28,917			123,637
Loss from discontinued operations, net of tax	—			—			(417		)	—			(101		)
Net income (loss)	(847		)	11,654			38,085			28,917			123,536
Net (income) loss attributable to noncontrolling interests	362			(413		)	(1,377		)	(1,513		)	(5,181		)
Net income (loss) attributable to SSI	$	(485	)	$	11,241		$	36,708		$	27,404		$	118,355
Basic: ⁽¹⁾
Income (loss) per share from continuing operations attributable to SSI	$	(0.02	)	$	0.41		$	1.34		$	1.00		$	4.28
Loss per share from discontinued operations	—			—			(0.02		)	—			—
Net income (loss) per share attributable to SSI	$	(0.02	)	$	0.41		$	1.32		$	1.00		$	4.28
Diluted: ⁽¹⁾
Income (loss) per share from continuing operations attributable to SSI	$	(0.02	)	$	0.40		$	1.33		$	0.99		$	4.24
Loss per share from discontinued operations	—			—			(0.02		)	—			(0.01		)
Net income (loss) per share attributable to SSI	$	(0.02	)	$	0.40		$	1.31		$	0.99		$	4.23
Weighted average number of common shares:
Basic	26,777			27,531			27,729			27,317			27,649
Diluted	26,777			27,795			28,007			27,553			27,959
Dividends declared per common share	$	0.188		$	0.188		$	0.017		$	0.410		$	0.068

(1) Net income (loss) used in EPS calculation:
Income (loss) from continuing operations	$	(847	)	$	11,654		$	38,502		$	28,917		$	123,637
Net (income) loss attributable to noncontrolling interests	362			(413		)	(1,377		)	(1,513		)	(5,181		)
Income (loss) from continuing operations attributable to SSI	(485		)	11,241			37,125			27,404			118,456
Loss from discontinued operations, net of tax	—			—			(417		)	—			(101		)
Net income (loss) attributable to SSI	$	(485	)	$	11,241		$	36,708		$	27,404		$	118,355


SCHNITZER STEEL INDUSTRIES, INC.
SELECTED OPERATING STATISTICS
(Unaudited)

										Fiscal Year										Fiscal Year
		1Q12		2Q12		3Q12		4Q12		2012		1Q11		2Q11		3Q11		4Q11		2011
Metals Recycling Business
Ferrous Selling Prices ($/LT) ⁽¹⁾
Steel Manufacturing Business	$	429	$	432	$	434	$	374	$	419	$	350	$	408	$	442	$	435	$	412
Other domestic		413		421		402		349		398		315		399		422		410		389
Exports		436		420		427		384		417		359		424		443		449		421
Average	$	432	$	421	$	424	$	378	$	415	$	353	$	419	$	440	$	443	$	416

Ferrous Sales Volume (LT)
SMB		135,512		90,510		115,633		88,778		430,433		90,537		95,774		122,238		95,351		403,900
Domestic		183,938		206,632		192,888		172,970		756,428		161,301		144,250		199,818		183,502		688,871
Export		912,939		1,055,237		1,044,063		915,927		3,928,166		979,063		860,005		1,142,156		1,254,708		4,235,932
Total		1,232,389		1,352,379		1,352,584		1,177,675		5,115,027		1,230,901		1,100,029		1,464,212		1,533,561		5,328,703

Nonferrous Average Price ($/LB) ⁽¹⁾	$	1.00	$	0.91	$	0.97	$	0.90	$	0.94	$	0.94	$	1.04	$	1.12	$	1.08	$	1.06

Nonferrous Sales Volume (LB, in 000s)		137,243		168,545		154,071		168,794		628,652		111,495		121,498		144,505		191,062		568,560

Steel Manufacturing Business
Sales Prices ($/ST) ^{(1) (2)}
Average	$	722	$	725	$	734	$	685	$	715	$	634	$	687	$	734	$	721	$	697

Sales Volume (ST)⁽²⁾
Rebar		62,487		51,141		55,378		74,797		243,803		63,668		51,569		45,494		61,411		222,142
Coiled Products		39,120		55,785		42,753		45,103		182,761		26,917		40,947		67,020		57,553		192,437
Merchant Bar and Other		5,030		5,097		4,812		5,837		20,776		7,071		6,322		5,811		5,290		24,494
Total		106,637		112,023		102,943		125,737		447,340		97,656		98,838		118,325		124,254		439,073

Auto Parts Business
Car purchase volumes (000)		85		84		89		81		339		82		81		93		97		353
Number of self-service locations at end of quarter		50		51		51		51		51		45		50		50		50		50

(1) Price information is shown after a reduction for the cost of freight incurred to deliver the product to the customer.
(2) Excludes billet sales.


SCHNITZER STEEL INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

	August 31, 2012		August 31, 2011
Assets
Current Assets:
Cash and cash equivalents	$	89,863	$	49,462
Accounts receivable, net	137,313		229,975
Inventories, net	246,992		335,120
Other current assets	42,651		39,442
Total current assets	516,819		653,999

Property, plant and equipment, net	564,185		555,284

Goodwill and other assets	682,569		680,886

Total assets	$	1,763,573	$	1,890,169

Liabilities and Equity
Current liabilities:
Short-term borrowings	$	683	$	643
Other current liabilities	178,159		232,670
Total current liabilities	178,842		233,313

Long-term debt	334,629		403,287

Other long-term liabilities	142,158		133,280

Redeemable noncontrolling interest	22,248		19,053

Equity:
Total Schnitzer Steel Industries, Inc. ("SSI") shareholders' equity	1,080,583		1,094,712
Noncontrolling interests	5,113		6,524
Total equity	1,085,696		1,101,236
Total liabilities and equity	$	1,763,573	$	1,890,169

Non-GAAP Financial Measures

This press release contains certain non-GAAP financial measures as defined under SEC rules such as adjusted operating income, adjusted net income attributable to SSI and adjusted diluted earnings per share attributable to SSI. As required by SEC rules, the Company has provided reconciliations of these measures to the most directly comparable U.S. GAAP measures. Management believes that each of the foregoing non-GAAP financial measures provides a meaningful presentation of the Company's results from its core business operations excluding adjustments for restructuring charges that are not related to the Company's ongoing core business operations and improves the period-to-period comparability of the Company's results from its core business operations. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the most directly comparable U.S. GAAP measures.


Operating Income (Loss)
($ in millions)

	Quarter							Year
	4Q12			3Q12		4Q11		2012		2011
Operating Income (Loss)	$	(1	)	$	22	$	56	$	54	$	186
Restructuring Charges		5			-		-		5		-
Adjusted Operating Income	$	4		$	22	$	56	$	59	$	186

Net Income (Loss) attributable to SSI
($ in millions)

	Quarter							Year
	4Q12			3Q12		4Q11		2012		2011
Net Income (Loss) attributable to SSI	$	-		$	11	$	37	$	27	$	118
Restructuring Charges, net of tax		3			-		-		3		-
Adjusted Net Income attributable to SSI (1)	$	3		$	11	$	37	$	31	$	118
(1) Numbers may not foot due to rounding

Diluted Earnings (Loss) per share attributable to SSI

	Quarter							Year
	4Q12			3Q12		4Q11		2012		2011
Net Income (Loss) per share attributable to SSI	$	(0.02	)	$	0.40	$	1.31	$	0.99	$	4.23
Restructuring Charges, net of tax, per share		0.12			-		-		0.12		-
Adjusted Diluted EPS attributable to SSI	$	0.10		$	0.40	$	1.31	$	1.11	$	4.23

About Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with 58 operating facilities located in 14 states, Puerto Rico and Western Canada. The business has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's integrated operating platform also includes its auto parts and steel manufacturing businesses. The Company's auto parts business sells used auto parts through its 51 self-service facilities located in 14 states and Western Canada. With an effective annual production capacity of approximately 800,000 tons, the Company's steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. The Company commenced its 106^th year of operations in 2012.

Safe Harbor for Forward-Looking Statements

Statements and information included in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Except as noted herein or as the context may otherwise require, all references to “we,” “our,” “us” and “SSI” refer to the Company and its consolidated subsidiaries.

Forward-looking statements in this press release include statements regarding our expectations, intentions, beliefs and strategies regarding the future, including statements regarding trends, cyclicality and changes in the markets we sell into; strategic direction; changes to manufacturing and production processes; the cost of compliance with environmental and other laws; expected tax rates, deductions and credits; the realization of deferred tax assets; planned capital expenditures; liquidity positions; ability to generate cash from continuing operations; the potential impact of adopting new accounting pronouncements; expected results, including pricing, sales volumes and profitability; obligations under our retirement plans; savings or additional costs from business realignment and cost containment programs; and the adequacy of accruals.

When used in this report, the words “believes,” “expects,” “anticipates,” “intends,” “assumes,” “estimates,” “evaluates,” “may,” “could,” “opinions,” “forecasts,” “future,” “forward,” “potential,” “probable,” and similar expressions are intended to identify forward-looking statements.

We may make other forward-looking statements from time to time, including in reports filed with the Securities and Exchange Commission, press releases and public conference calls. All forward-looking statements we make are based on information available to us at the time the statements are made, and we assume no obligation to update any forward-looking statements, except as may be required by law. Our business is subject to the effects of changes in domestic and global economic conditions and a number of other risks and uncertainties that could cause actual results to differ materially from those included in, or implied by, such forward-looking statements. Some of these risks and uncertainties are discussed in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent annual report on Form 10-K and our quarterly report on Form 10-Q. Examples of these risks include: potential environmental cleanup costs related to the Portland Harbor Superfund site; the impact of general economic conditions; volatile supply and demand conditions affecting prices and volumes in the markets for both our products and raw materials we purchase; difficulties associated with acquisitions and integration of acquired businesses; the impact of goodwill impairment charges; the realization of expected cost reductions related to restructuring initiatives; the inability of customers to fulfill their contractual obligations; the impact of foreign currency fluctuations; potential limitations on our ability to access capital resources and existing credit facilities; the impact of the consolidation in the steel industry; the impact of imports of foreign steel into the U.S.; inability to realize expected benefits from investments in technology; freight rates and availability of transportation; product liability claims; costs associated with compliance with environmental regulations; the adverse impact of climate change; inability to obtain or renew business licenses and permits; compliance with greenhouse gas emission regulations; reliance on employees subject to collective bargaining agreements; and the impact of the underfunded status of multiemployer plans in which we participate.

Source: Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc.
Investor Relations:
Alexandra Deignan, 646-278-9711
adeignan@schn.com
or
Media Relations:
Chip Terhune, 503-265-6370
cterhune@schn.com
or
Company Info:
www.schnitzersteel.com
ir@schn.com

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