Schnitzer Steel
Schnitzer Steel Industries, Inc. is an American steel manufacturing and scrap metal recycling company headquartered in Portland, Oregon.History
Schnitzer Steel was founded by Russian immigrant Sam Schnitzer in 1906 as a one-person scrap metal recycler. Between 1947 and 1950, his son, Harold Schnitzer, worked at the company.
By 1993, Schnitzer Steel became a public company via an initial public offering. In January 2003, the company acquired Pick-n-Pull. In October 2005, it acquired GreenLeaf Auto Recyclers, which would then be sold in 2009, and Regional Recycling, a metals recycling business with 10 locations in the Southeastern United States. In the following year, the company acquired Advanced Recycling.
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.
Tamara Lundgren became the chief executive officer, and John Carter became chairman in November 2008,. In January 2010, the Schnitzer family sold their shares such that their ownership in the company fell below 20%. April of the same year, the company acquired Golden Recycling & Salvage, a recycling company in Billings, Montana.
In 2011, the company acquired State Line Scrap Co., a recycling company in Attleboro, Massachusetts, and Ferrill’s Auto Parts of Seattle. By 2013, the company moved its headquarters to downtown Portland, Oregon.
