Schnitzer Announces Fiscal 2016 Sustainability Report
August 14 2017 - 10:00AM
Business Wire
Schnitzer Steel Industries, Inc. (Nasdaq: SCHN) today released
its 2016 Sustainability Report for the fiscal year ended August 31,
2016. Our third consecutive annual report summarizes our
environmental footprint, safety performance, corporate governance
and compliance, and community involvement, and provides key
performance indicators (KPIs) which demonstrate the sustainability
advances we have made over the year. Our KPIs have been selected to
align with internationally recognized standards, and the metrics we
are reporting have been assured by independent analysis. Please
visit our website to view our Sustainability Report Fiscal
2016.
“We are proud to present our third annual Sustainability Report
which highlights our sustainability achievements during fiscal
2016. For over a century we have been creating value from recycling
through sustainable practices and our commitment to positively
impact the communities in which we operate,” said Tamara Lundgren,
Schnitzer’s President and Chief Executive Officer. “Sustainability
is one of our core values and provides a long-term platform on
which to grow our business globally, serving the interests of our
customers, suppliers, partners, employees, shareholders and local
communities.”
Background on Benefits of Metals Recycling
Recycling is one of the most efficient ways to protect the
environment. Each year, more steel is recycled than paper,
aluminum, plastic and glass combined. Using recycled scrap steel in
steel manufacturing saves up to 65% in primary energy input and
reduces water use up to 91% as compared with processes using newly
mined iron ore. Additionally, steel manufacturing using scrap steel
generates up to 92% less waste.
About Schnitzer Steel Industries, Inc.
Schnitzer Steel Industries, Inc. is one of the largest
manufacturers and exporters of recycled metal products in the
United States, recycling 3.3 million tons of ferrous metal and 510
million pounds of nonferrous metal in fiscal year 2016. Schnitzer
has seven deep-water export facilities and operates in 23 states,
Puerto Rico and Western Canada. The Company’s vertically integrated
operating platform also includes 53 retail stores which sell
recycled auto parts and receive approximately 5 million annual
customer visits. The Company’s electric arc furnace mill in
McMinnville, Oregon produces finished steel products, including
rebar, wire rod and other specialty products using recycled metal
as its primary raw material. The Company began operations in 1906
in Portland, Oregon.
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version on businesswire.com: http://www.businesswire.com/news/home/20170814005189/en/
Schnitzer Steel Industries, Inc.Investor Relations: Alexandra
Deignan, 646-278-9711Media Relations: Colin Kelly,
781-873-1665www.schnitzersteel.comir@schn.com
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