Schnitzer Steel Industries, Inc. Named as a 2015 World's Most Ethical Company by the Ethisphere Institute
PORTLAND, Ore.--(BUSINESS WIRE)--Mar. 9, 2015--
Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) announced today that it
has been recognized by the Ethisphere Institute, the global leader in
defining and advancing the standards of ethical business practices, as a 2015
World’s Most Ethical Company®.
The World’s Most Ethical Companies designation recognizes those
organizations that have had a material impact on the way business is
conducted by fostering a culture of ethics and transparency at every
level of the company.
Being an honoree underscores Schnitzer’s commitment to leading ethical
business standards and practices designed to ensure long-term value to
key stakeholders including customers, employees, suppliers, regulators
and investors.
“We are honored to receive this award for our culture of integrity,
safety and sustainability,” said Tamara Lundgren, Schnitzer President
and Chief Executive Officer. “Being named a 2015 World's Most Ethical
Company reinforces our commitment to maintaining the highest level of
ethical standards, which is essential to building and maintaining trust
among our employees, within our communities and with all of our
stakeholders as we continue to build a leading global metals recycling
business. I am proud of my colleagues and the Company.”
“We are very pleased to be included among an elite group of companies
that serve as leaders in ethics and corporate citizenship and
responsibility,” said Callie Pappas, Vice President and Chief Compliance
Officer. “We are committed to maintaining best-in-class compliance
programs with the underlying core value of doing the right thing every
time. We consider this formal recognition to be a truly great
achievement.”
“The World’s Most Ethical Companies embrace the correlation between
ethical business practice and improved company performance. These
companies use ethics as a means to further define their industry
leadership and understand that creating an ethical culture and earning
the World’s Most Ethical Companies recognition involves more than just
an outward facing message or a handful of senior executives saying the
right thing,” said Ethisphere’s Chief Executive Officer Timothy Erblich.
“Earning this recognition involves the collective action of a global
workforce from the top down. We congratulate everyone at Schnitzer for
this extraordinary achievement.”
The World's Most Ethical Company assessment is based upon the Ethisphere
Institute’s Ethics
Quotient™ (EQ) framework developed over years of research to provide
a means to assess an organization’s performance in an objective,
consistent and standardized way. The information collected provides a
comprehensive sampling of definitive criteria of core competencies,
rather than all aspects of corporate governance, risk, sustainability,
compliance and ethics. The EQ framework and methodology is determined,
vetted and refined by the expert advice and insights gleaned from
Ethisphere’s network of thought leaders and from the World’s Most
Ethical Company Methodology
Advisory Panel.
Scores are generated in five key categories: ethics and compliance
program (35%), corporate citizenship and responsibility (20%), culture
of ethics (20%), governance (15%) and leadership, innovation and
reputation (10%).
The full list of the 2015 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.
About Schnitzer Steel
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and
exporters of recycled ferrous metal products in the United States with
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 self-service facilities located in 16 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 110th year of operations
in 2015.
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing
the standards of ethical business practices that fuel corporate
character, marketplace trust and business success. Ethisphere has deep
expertise in measuring and defining core ethics standards using
data-driven insights that help companies enhance corporate character.
Ethisphere honors superior achievement through its World’s Most Ethical
Companies® recognition program, provides a community of
industry experts with the Business Ethics Leadership Alliance (BELA) and
showcases trends and best practices in ethics with the publication of Ethisphere
Magazine and The World’s Most Ethical Companies Executive Briefing.
Ethisphere is also the leading provider of independent verification of
corporate ethics and compliance programs. More information about
Ethisphere can be found at: http://ethisphere.com.
Source: Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc.
Investor Relations: Alexandra
Deignan, 646-278-9711
Media Relations: Colin Kelly, 781-873-1665
www.schnitzersteel.com
[email protected]
or
Ethisphere
Clea
Nabozny
480-397-2658
[email protected]