News Releases

Schnitzer Announces Acquisition of Self-Service Auto Parts Businesses

PORTLAND, Ore., Aug 04, 2008 (BUSINESS WIRE) -- Schnitzer Steel Industries, Inc. (Nasdaq:SCHN) today announced that its Auto Parts Business has acquired three self-service used auto parts businesses located in Little Rock, Arkansas and San Antonio, Texas. The Company purchased the assets and business of U-Pull-It Auto Parts, Inc., U-Pull-It Jacksonville, Inc., and Roosevelt U-Pull-It, Inc., which were previously owned and operated by Gary Johnson.

The acquisition of these three self-service used auto parts businesses brings the total number of self-service facilities operated by Schnitzer to 38. "These three facilities complement our self-service franchise and are another important step in the growth of the Company's Auto Parts Business," stated Tom Klauer, President of the Auto Parts Business.

Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with 39 operating facilities located in 12 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 38 self-service facilities and 18 full-service facilities located in 16 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., go to www.schnitzersteel.com.

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

Data provided by Thomson Reuters