Schnitzer Steel Industries, Inc. (SCHN): history, ownership, mission, how it works & makes money (2024)

A Brief History of Schnitzer Steel Industries, Inc. (SCHN)

Schnitzer Steel Industries, Inc. was founded in 1906 by Sam Schnitzer in Portland, Oregon. The company initially started as a one-man scrap metal recycling business.

Over the years, Schnitzer Steel grew through a series of acquisitions and expansions. In the 1940s, the company began exporting scrap metal to Japan, which was a major driver of growth for the business.

• In 1993, Schnitzer Steel went public, trading on the NASDAQ under the ticker symbol SCHN.
• In 2005, the company acquired the metals recycling division of Hugo Neu Corporation, expanding its presence in the industry.
• In 2018, Schnitzer Steel sold its auto parts business to LKQ Corporation, allowing the company to focus solely on its core business of recycling and processing metals.

Today, Schnitzer Steel Industries, Inc. is one of the largest metal recycling companies in the United States, operating in over 100 locations across North America. The company is known for its commitment to sustainability and environmentally friendly practices in the recycling industry.

Who Owns Schnitzer Steel Industries, Inc. (SCHN)

Schnitzer Steel Industries, Inc. (SCHN) is a leading global metal recycling company headquartered in Portland, Oregon. The company was founded in 1906 and has since grown to become one of the largest scrap metal recyclers in the United States. As of the latest data available, Schnitzer Steel Industries, Inc. is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol SCHN.

The ownership of a publicly traded company like Schnitzer Steel Industries, Inc. is divided among its shareholders. These shareholders can include individual investors, institutional investors, and corporate entities. As of now, there is no single majority owner of the company, as ownership is spread out among thousands of shareholders who own shares of SCHN stock.

Some of the largest institutional investors in Schnitzer Steel Industries, Inc. include:

• Vanguard Group
• BlackRock Inc.
• Dimensional Fund Advisors
• Renaissance Technologies LLC

Individual investors can also own shares of Schnitzer Steel Industries, Inc. through brokerage accounts or retirement savings accounts. The company's stock price can fluctuate based on a variety of factors, including market conditions, industry trends, and company performance. Despite the diverse ownership structure, Schnitzer Steel Industries, Inc. is managed by a board of directors and executive team who are responsible for guiding the company's operations and strategic direction.

Schnitzer Steel Industries, Inc. (SCHN) Mission Statement

Schnitzer Steel Industries, Inc. is committed to being the global leader in the sustainable manufacture and distribution of recycled metal products. Our mission is to create value for our customers, employees, shareholders, and the communities in which we operate by recycling resources, reducing waste, and conserving energy.

• Customer Value: We strive to exceed our customers' expectations by providing high-quality products and exceptional service.
• Employee Development: We foster a culture of teamwork, respect, and continuous learning to empower our employees to reach their full potential.
• Shareholder Returns: We are dedicated to delivering sustainable returns for our shareholders through sound financial management and strategic growth initiatives.
• Community Engagement: We are committed to being a responsible corporate citizen by supporting the communities in which we operate through philanthropy and environmental stewardship.

How Schnitzer Steel Industries, Inc. (SCHN) Works

Schnitzer Steel Industries, Inc. is a global leader in the collection, processing, and sale of scrap metal and other recyclable materials. The company operates through two main segments: Auto and Metals Recycling (AMR) and Cascade Steel and Scrap (CSS).

Auto and Metals Recycling (AMR) primarily involves collecting and recycling ferrous and nonferrous scrap metal through a network of recycling facilities. This segment collects end-of-life vehicles, appliances, and other metal products from individuals, businesses, and municipalities, processes them at its recycling facilities, and then sells the recycled metal to steel mills and foundries around the world.

Cascade Steel and Scrap (CSS) operates a steel mini-mill in Oregon that produces a wide range of finished steel products using recycled scrap metal as the primary raw material. This segment also includes a scrap metal recycling business that collects and processes ferrous and nonferrous scrap metal for sale to customers in the Pacific Northwest region.

Overall, Schnitzer Steel Industries, Inc. works to promote sustainability by diverting millions of tons of scrap metal and other recyclable materials from landfills each year. The company's environmentally friendly practices help conserve natural resources and reduce greenhouse gas emissions associated with traditional steel production.

• Collection: Schnitzer Steel Industries collects scrap metal and other recyclable materials from various sources, including individuals, businesses, and municipalities.
• Processing: The collected materials are brought to recycling facilities where they are sorted, cleaned, and processed to remove impurities and prepare them for sale.
• Sale: The processed scrap metal is sold to steel mills, foundries, and other customers around the world, contributing to the global supply chain for sustainable steel production.
• Production: At its steel mini-mill in Oregon, Schnitzer Steel Industries produces finished steel products using recycled scrap metal as the primary raw material, further promoting the circular economy.

How Schnitzer Steel Industries, Inc. (SCHN) Makes Money

Schnitzer Steel Industries, Inc. (SCHN) generates revenue through various business segments that contribute to its overall financial performance. The company primarily makes money through the following key areas:

• Recycling: One of the primary sources of revenue for Schnitzer Steel Industries is its recycling business. The company collects and processes scrap metal from a variety of sources, including automobiles, appliances, and industrial equipment. This scrap metal is then sorted, shredded, and sold to steel mills and foundries for recycling into new products.
• Sales of Finished Products: In addition to selling scrap metal, Schnitzer Steel Industries also produces and sells finished steel products, such as rebar, wire rod, and structural steel. These products are used in construction, manufacturing, and other industries, helping to diversify the company's revenue streams.
• Auto Parts: Schnitzer Steel Industries operates a network of self-service auto parts stores under the brand name "Pick-n-Pull." Customers can visit these stores to purchase high-quality, recycled auto parts at affordable prices. This segment of the business contributes to the company's overall profitability.
• International Operations: Schnitzer Steel Industries has a presence in international markets, including Canada and Mexico. The company exports scrap metal and finished steel products to customers around the world, generating revenue from global sales and trade.
• Brokerage and Trading: Schnitzer Steel Industries also engages in brokerage and trading activities related to scrap metal and steel products. The company acts as an intermediary between buyers and sellers, earning commissions and fees on transactions facilitated through its network.