News Releases
Schnitzer Steel's Auto Parts Business Named ''Recycler of the Year'' by Steel Manufacturers Association
The Commonwealth of Virginia Also Recognizes the Company's Environmental StewardshipPORTLAND, Ore., May 12, 2008 (BUSINESS WIRE) -- Across the nation, millions of end-of-life or damaged automobiles
are recycled each year by auto dismantlers. A number of these vehicles
contain mercury switches, which -- if left in place -- have the
potential to release harmful mercury into the environment when the
automobiles are processed into scrap metal. As recognition for the
Company's leadership in recycling and mercury switch removal, the
Steel Manufacturers Association (SMA) recently named Schnitzer Steel's
two auto parts businesses as "Recycler of the Year." The award will be
formally presented during SMA's Annual Members Meeting in Washington,
D.C. on May 20, 2008.
Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) annually recycles
approximately 300,000 end-of-life vehicles through its Pick-n-Pull and
GreenLeaf Auto Recyclers businesses, which are part of its Auto Parts
Business (APB). These businesses, which include 53 self-service and
full-service auto parts stores across the United States and Canada,
purchase vehicles and offer recycled auto parts to consumers and
businesses.
Through carefully designed processes and the dedication of its
employees to protecting the environment, Pick-n-Pull and GreenLeaf
have become a leader in mercury switch recycling within the automobile
dismantling industry. Both businesses participate in the national End
of Life Vehicle Solutions Corporation (ELVS) program, which was formed
by the automotive industry and is a signatory to the U.S.
Environmental Protection Agency's National Vehicle Mercury Switch
Recovery Program. Since joining the program in 2006, Pick-n-Pull and
GreenLeaf have recycled more than 110,000 mercury switches, which
equates to more than 244 pounds of mercury.
"It is an honor to receive this award from the Steel Manufacturers
Association," stated Thomas Klauer, Senior Vice President and
President, Auto Parts Business at Schnitzer Steel. "We are committed
to remaining a strong steward of the environment as we continue to
grow our businesses and provide our customers with an increasing
supply of auto parts."
Schnitzer Steel's Auto Parts Business has also recently received
accolades from the Commonwealth of Virginia. The state's Department of
Environmental Quality (DEQ) recognized the company's Pick-n-Pull
operation in Virginia Beach, Va. for its exceptional participation in
Virginia's Mercury Switch Removal Program. To date, the facility has
removed and submitted more than 7,000 mercury switches.
In a letter to the company, Karen J. Sismour, Waste Division
Director for the Virginia DEQ stated that the one "facility alone has
turned in more than half of all the mercury switches submitted by all
the demolishers in Virginia. Additionally, the Company's efforts have
successfully prevented 13.6 pounds of mercury from entering Virginia's
environment."
Schnitzer Steel's commitment to environmental stewardship extends
beyond its Auto Parts Business to all of its scrap metal recycling
facilities and at its steel mill operations. Schnitzer Steel is one of
the largest manufacturers and exporters of recycled ferrous metal
products in the United States with 36 operating facilities located in
11 states throughout the country, including six export facilities
located on both the East and West Coasts and in Hawaii. The Company's
vertically integrated operating platform also includes its Auto Parts
and Steel Manufacturing Businesses. The Company's Auto Parts Business
sells used auto parts through its 35 self-service facilities and 18
full-service facilities located in 14 states and in western Canada.
With an annual production capacity of over 750,000 tons, the Company's
Steel Manufacturing Business produces finished steel products,
including rebar, wire rod and other specialty products. The Company
commenced its 102nd year of operations in fiscal 2008. For more
information about Schnitzer Steel Industries, Inc., visit
www.schnitzersteel.com.
Pick-n-Pull is an industry-leading chain of self-service auto
parts stores providing recycled original equipment manufacturer (OEM)
parts at low prices. At 35 locations, the company offers quality parts
for all makes and models of foreign and domestic cars, vans and light
trucks.
GreenLeaf Auto Recyclers is one of the largest sources of
recycled, remanufactured and reconditioned OEM auto parts for the
collision, mechanical repair and insurance industries. The company's
18 full-service locations offer a large selection of high quality
parts for cars, vans and light trucks -- all makes and models, foreign
and domestic -- at a fraction of what new parts typically cost.
The Steel Manufacturers Association (SMA) is the primary trade
association for scrap-based electric arc furnace steelmakers, whose
minimills comprise the nation's largest recyclers and account for
nearly 70 percent of the steel produced in the U.S. today. It consists
of 36 North American companies that operate more than 130 facilities
and employ approximately 50,000 people involved in the production and
fabrication of steel. For more information about the SMA, visit
www.steelnet.org.
SOURCE: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Rob Stone, 503-224-9900 (Investor Relations)
Tom Zelenka, 503-323-2821 (Press Relations)
www.schnitzersteel.com
ir@schn.com