Formerly | Schnitzer Steel Industries, Inc. |
---|---|
Company type | Public |
Nasdaq: RDUS (Class A) Russell 2000 Index component | |
Industry | Steel |
Founded | 1906 |
Founder | Sam Schnitzer |
Headquarters | Portland, Oregon |
Key people | Tamara L. Lundgren (CEO, chairman, president) |
Products | Steel Rebar |
Revenue | $1.712 billion (FY 2020) |
-$4 million (FY 2020) | |
Total assets | $1.229 billion (FY 2020) |
Total equity | $680 million (FY 2020) |
Number of employees | 3,032 (2020) |
Subsidiaries | Pick-n-Pull Cascade Steel |
Website | radiusrecycling |
Footnotes /references [1] [2] [3] |
Radius Recycling, Inc., previously known as Schnitzer Steel Industries, Inc., is a steel manufacturing and scrap metal recycling company headquartered in Portland, Oregon. Founded in 1906, the publicly traded company is a component Russell 2000 Index with approximately 3,500 employees. In 2023, the company adopted its current name and a new NASDAQ symbol of RDUS.
Schnitzer Steel was founded by Russian immigrant Sam Schnitzer in 1906 as a one-person scrap metal recycler. [4] Between 1947 and 1950, his son, Harold Schnitzer, worked at the company. [5] Harold left the company to create Harsch Investment Properties, and his charitable contributions led to the family name being adorned to numerous buildings and institutions in Oregon. [6] Olympic champion Mark Spitz's father Arnold worked for the company in Oakland, California. [7] In 1984, the company bought Cascade Steel Rolling Mills, who operated a steel mill in McMinnville, Oregon. [8] Schnitzer purchased eight service centers from U.S. Steel in 1986 for its Metra Steel subsidiary. [9]
In 1993, Schnitzer Steel became a public company via an initial public offering. [10] In January 2003, the company acquired Pick-n-Pull, a chain of automobile scrape yards where consumers can obtain autoparts from scrapped vehicles. [11] In October 2005, it acquired GreenLeaf Auto Recyclers, [12] which was sold in 2009, [13] and Regional Recycling, a metals recycling business with 10 locations in the Southeastern United States. [14] In 2006, the company acquired Advanced Recycling. [15] [16]
In December 2007, the U.S. Securities and Exchange Commission charged former chairman and CEO Robert Philip for violating bribery laws as part of the Foreign Corrupt Practices Act in relation to dealings with Chinese steel mills. [17] [18]
Tamara Lundgren became the chief executive officer, and John Carter became chairman in November 2008. [19]
In January 2010, the Schnitzer family sold their shares such that their ownership in the company fell below 20%. [4] In April 2010, the company acquired Golden Recycling & Salvage, a recycling company in Billings, Montana. [20]
In 2011, the company acquired State Line Scrap Co., a recycling company in Attleboro, Massachusetts, [21] [22] and Ferrill's Auto Parts of Seattle. [23] [24]
In 2013, the company moved its headquarters to downtown Portland, Oregon, to the KOIN Tower. [25] [26] The company changed its name to Radius Recycling in 2023, including a new stock ticker symbol on the NASDAQ of RDUS. [26] At that time the company had approximately 3,500 employees. [26]
The company operates auto parts recycling, metal recycling, and steel manufacturing with locations in 26 states and two Canadian provinces, plus Puerto Rico. [27] This includes the Pick-n-Pull auto parts recycling chain with 51 locations. [27] Steel manufacturing is through the Cascade Steel Rolling Mills plant in McMinnville, Oregon. [26] [27]
Nucor Corporation is an American company based in Charlotte, North Carolina, that produces steel and related products. It is the largest steel producer in the United States and the largest recycler of scrap in North America. Nucor is the 16th-largest steel producer in the world. Along with Commercial Metals Company, it is one of two primary suppliers of rebar used to reinforce concrete in buildings, bridges, roads, and infrastructure in the U.S.
Scrap consists of recyclable materials, usually metals, left over from product manufacturing and consumption, such as parts of vehicles, building supplies, and surplus materials. Unlike waste, scrap has monetary value, especially recovered metals, and non-metallic materials are also recovered for recycling. Once collected, the materials are sorted into types — typically metal scrap will be crushed, shredded, and sorted using mechanical processes.
ATI Inc. is an American producer of specialty materials headquartered in Dallas, Texas. ATI produces metals including titanium and titanium alloys, nickel-based alloys and superalloys, stainless and specialty steels, zirconium, hafnium, and niobium, tungsten materials, forgings and castings.
A wrecking yard, scrapyard or junkyard is the location of a business in dismantling where wrecked or decommissioned vehicles are brought, their usable parts are sold for use in operating vehicles, while the unusable metal parts, known as scrap metal parts, are sold to metal-recycling companies. Other terms include wreck yard, wrecker's yard, salvage yard, breaker's yard, dismantler and scrapheap. In the United Kingdom, car salvage yards are known as car breakers, while motorcycle salvage yards are known as bike breakers. In Australia, they are often referred to as 'Wreckers'.
The Portland and Western Railroad is a 516-mile (830 km) Class II railroad serving the U.S. state of Oregon, and is a wholly owned subsidiary of shortline and regional railroad holding company Genesee & Wyoming Inc. The PNWR includes a subsidiary, the Willamette and Pacific Railroad.
Commercial Metals Company (CMC), headquartered in Irving, Texas, is a producer of rebar and related products for the construction industry. Along with Nucor, it is one of two primary suppliers of steel used to reinforce concrete in buildings, bridges, roads, and infrastructure in the U.S. The company also owns Tensar, a producer of foundation systems used for the construction of roadways, public infrastructure, and industrial facilities.
Precision Castparts Corp. is an American industrial goods and metal fabrication company that manufactures investment castings, forged components, and airfoil castings for use in the aerospace, industrial gas turbine, and defense industries. In 2009 it ranked 362nd on the Fortune 500 list, and 11th in the aerospace and defense industry. In 2015 it ranked 322nd overall and 9th in the aerospace and defense industry. In 2014 it ranked 133rd on the S&P 500 based on market capitalization. In January 2016, the company became a wholly owned subsidiary of Berkshire Hathaway. Before that event, it used to be one of the three Fortune 500 companies headquartered in Oregon.
The Greenbrier Companies is an American publicly traded transportation manufacturing corporation based in Lake Oswego, Oregon, United States. Greenbrier specializes in transportation services, notably freight railcar manufacturing, railcar refurbishment and railcar leasing/management services. The company is one of the leading designers, manufacturers and marketers of rail freight equipment in North America and Europe. It also has operations in South America, Poland, Romania and Turkey. Greenbrier is a leading provider of railcars, wheelsets, parts, management, leasing and other services to the railroad and related transportation industries in North America. As of August 31, 2021, Greenbrier employs 15,400 people across its global operations. Formed in 1981 and publicly traded since 1994, the company generates revenues of US$3.49 billion.
Carpenter Technology Corporation develops, manufactures, and distributes stainless steels and corrosion-resistant alloys. In fiscal year 2018, the company's revenues were derived from the aerospace and defense industry (55%), the industrial and consumer industry (17%), the medical industry (8%), the transportation industry (7%), the energy industry (7%), and the distribution industry (6%). The company's products are used in landing gear, shaft collars, safety wires, electricity generation products, intervertebral disc arthroplasty, and engine valves and weldings.
Sims Limited (formerly Sims Metal Management Limited) is a global environmental services conglomerate, operating through a number of divisions, with a focus on: (a) Ferrous and Non-ferrous metal recycling, (b) enterprise data destruction and cloud asset management (c) post-consumer electronic goods recycling and reuse, (d) municipal waste recycling, (e) gas to energy, and (f) waste to energy. Founded in 1917, its primary operations are located in the United States, Australia and the UK.
Vehicle recycling or automobile scrapping is the dismantling of vehicles for spare parts. At the end of their useful life, vehicles have value as a source of spare parts and this has created a vehicle dismantling industry. The industry has various names for its business outlets including wrecking yard, auto dismantling yard, car spare parts supplier, and recently, auto or vehicle recycling. Vehicle recycling has always occurred to some degree but in recent years manufacturers have become involved in the process. A car crusher is often used to reduce the size of scrapped vehicles for simplified transportation to a steel mill.
Steel Dynamics, Inc. (SDI) is an American steel producer based in Fort Wayne, Indiana. With a production capacity of 13 million tons of steel, the company is the third largest producer of carbon steel products in the United States. It is among the most profitable American steel companies in terms of profit margins and operating margin per ton. Based on its 2021 revenue, the company ranked 196th on the 2022 edition of the Fortune 500.
Pull-A-Part, LLC is a United States chain of automotive recycling yards where customers bring their own tools and remove parts out of used vehicles. As of July 2017 there are 25 locations in 12 states.
Electro Scientific Industries, Inc. (ESI) is an American high technology company headquartered in the Portland, Oregon, metropolitan area, specifically in Beaverton, Oregon, since 2021, but from 1963–2021, it was based in the unincorporated Cedar Mill area just north of Beaverton. ESI is a developer and supplier of photonic and laser systems for microelectronics manufacturers. Founded in 1944, it is the oldest high-tech company in Oregon. Along with Tektronix, and later Intel, it has spawned numerous technology-based companies in the Portland area, an area known as the Silicon Forest. From 1983 to 2019, shares in the company were publicly traded on NASDAQ, under the ticker symbol ESIO.
Harold J. Schnitzer was an American businessman, civic leader, and philanthropist. Schnitzer is best remembered for having made over $80 million in charitable gifts over the course of his lifetime, including the establishment of the Harold Schnitzer Family Program in Judaic Studies at Portland State University in Portland, Oregon and at the University of Oregon.
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Cascade Microtech is a semiconductor test equipment manufacturer based in Beaverton in the Portland metropolitan area of the United States. Founded in 1983, the Oregon-based company employs nearly 400 people. Formerly publicly traded company as CSCD on the NASDAQ, the company is now fully merged with FormFactor, Inc.
A scrap metal shredder, also sometimes referred to as a metal scrap shredder, is a machine used for reducing the size of scrap metal. Scrap metal shredders come in many different variations and sizes.
Arlene Schnitzer was an American arts patron and philanthropist. She was the founder and director of the Fountain Gallery, established in Portland to showcase artists in the Pacific Northwest. She is the namesake of the Arlene Schnitzer Concert Hall, a performing arts center in Portland, Oregon.
Harvest Queen was the name of two stern-wheel steamboat built and operated in Oregon. Both vessels were well known in their day and had reputations for speed, power, and efficiency.The first Harvest Queen, widely considered one of the finest steamers of its day, was constructed at Celilo, Oregon, which was then separated from the other portions of the navigable Columbia River by two stretches of difficult to pass rapids.