News Release

Schnitzer Named Scrap Company of the Year
American Metal Market's 2nd Annual Awards for Steel Excellence

PORTLAND, Ore., Jun 22, 2011 (BUSINESS WIRE) --

Schnitzer Steel Industries, Inc. (Nasdaq:SCHN) is named "Scrap Company of the Year" at the American Metal Market's (AMM) 2nd Annual Awards for Steel Excellence. This prestigious award recognizes Schnitzer's outstanding commitment to operational excellence, significant growth achievements and contributions to the industry's global advancement during the past year.

"2010 was an extraordinary year of performance for Schnitzer which continues to drive our accomplishments in the current year," said Tamara Lundgren, President and CEO. "We remain focused on our strategy to opportunistically invest in our growth and, as overall global demand for recycled metals gains momentum, we are uniquely positioned to benefit from our bi-coastal footprint in North America, the emphasis on safety and sustainability throughout the organization, and the exceptional dedication of our nearly 4,000 employees who make our strategic goals a reality."

AMM's 2010 Steel Excellence Awards program recognized companies for demonstrating operational excellence as well as contributions to the industry overall. Nominations for the award were judged in three areas:

  • Customer service/support and continuous improvement initiatives
  • The adoption/implementation of scrap anti-theft, mercury-switch removal and radiation-detection measures
  • Environmental compliance and safety performance 2010 vs. 2009

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 57 operating facilities located in 14 states, Puerto Rico and Western Canada. The Company has seven deep water export facilities located on both the West and East coasts as well as 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 50 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 105th year of operations in fiscal year 2011.

SOURCE: Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc.
Investor Relations:
Alexandra Deignan, 646-278-9711
Media Relations:
Chip Terhune, 503-367-2568
Email: [email protected]

Data provided by Thomson Reuters