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Radius Recycling

Radius Recycling, Inc.
FormerlySchnitzer Steel Industries, Inc.
Company typePublic
Nasdaq: RDUS (Class A)
Russell 2000 Index component
IndustrySteel
Founded1906; 119 years ago (1906)
FounderSam Schnitzer
HeadquartersPortland, Oregon
Key people
Tamara L. Lundgren (CEO, chairman, president)
ProductsSteel
Rebar
RevenueDecrease $2.738 billion (FY 2024)
Decrease -$266 million (FY 2024)
Total assetsDecrease $1.533 billion (FY 2024)
Total equityDecrease $623 million (FY 2024)
Number of employees
3,011 (2024)
SubsidiariesPick-n-Pull
Cascade Steel
Websiteradiusrecycling.com
Footnotes / references
[1]
Cascade Steel mill in McMinnville, Oregon

Radius Recycling, Inc., is a scrap recycling and steel manufacturing company headquartered in Portland, Oregon. The company operates auto parts recycling, metal recycling, and steel manufacturing with locations in 26 states and two Canadian provinces, as well as Puerto Rico.[1] The company recycles vehicles, rail cars, home appliances, industrial machinery, and scrap.[1] The company has 103 recycling facilities including the Pick-n-Pull auto parts recycling chain with 50 locations and 53 metals recycling facilities.[1] Steel manufacturing is through the Cascade Steel Rolling Mills plant in McMinnville, Oregon.[1]

History

Former logo

The company was founded as Schnitzer Steel by Russian immigrant Sam Schnitzer in 1906 as a one-person scrap metal recycler.[2] Between 1947 and 1950, his son, Harold Schnitzer, worked at the company.[3]

In 1984, the company bought Cascade Steel Rolling Mills, who operated a steel mill in McMinnville, Oregon.[4] Schnitzer purchased eight service centers from U.S. Steel in 1986 for its Metra Steel subsidiary.[5]

In 1993, Schnitzer Steel became a public company via an initial public offering.[6]

In January 2003, the company acquired Pick-n-Pull, a chain of automobile scrape yards where consumers can obtain autoparts from scrapped vehicles.[7] In October 2005, it acquired GreenLeaf Auto Recyclers,[8] which was sold in 2009,[9] and Regional Recycling, a metals recycling business with 10 locations in the Southeastern United States.[10] In December 2006, the company acquired Advanced Recycling.[11][12]

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.[13][14]

Tamara Lundgren became the chief executive officer, and John Carter became chairman in November 2008.[15]

In January 2010, the Schnitzer family sold their shares such that their ownership in the company fell below 20%.[2] In April 2010, the company acquired Golden Recycling & Salvage, a recycling company in Billings, Montana.[16]

In 2011, the company acquired State Line Scrap Co., a recycling company in Attleboro, Massachusetts,[17][18] and Ferrill's Auto Parts of Seattle.[19][20]

In 2013, the company moved its headquarters to downtown Portland, Oregon, to the KOIN Tower.[21] The company changed its name to Radius Recycling in July 2023.[22]

See also

References

  1. ^ a b c d e "Radius Recycling, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. October 24, 2024.
  2. ^ a b Hunsberger, Brent (January 27, 2010). "Schnitzer family sells stock, loses control of steel company". The Oregonian.
  3. ^ "Paid Notice: Deaths SCHNITZER, HAROLD J." The New York Times. May 15, 2011.
  4. ^ "Cascade Steel". The New York Times. Reuters. September 18, 1984.
  5. ^ "USX sold eight of its service centers in the West". Los Angeles Times. October 27, 1986.
  6. ^ BURI, SHERRI (May 30, 1996). "Heaps of Junk Metal Bringing Piles of Cash to Company". Los Angeles Times. Associated Press.
  7. ^ "Schnitzer to Acquire 100% of an Industry Leading Auto Dismantler" (PDF) (Press release). Business Wire. January 10, 2003.
  8. ^ "Schnitzer Steel Completes Separation with Hugo Neu". Association for Iron and Steel Technology. October 4, 2005.
  9. ^ "LKQ Corporation Acquires Greenleaf Auto Recyclers, LLC From Schnitzer Steel Industries, Inc. and Sells Some of Its Retail Oriented Self-Service Recycling Businesses" (Press release). GlobeNewswire. October 2, 2009.
  10. ^ "Schnitzer Steel Completes its Acquisition of Regional Recycling". Steel Orbis. November 1, 2005.
  11. ^ "Schnitzer Steel Completes Acquisition of Advanced Recycling". Association for Iron and Steel Technology. December 19, 2006.
  12. ^ "Schnitzer Steel acquires Advanced Recycling". American City Business Journals. August 16, 2006.
  13. ^ "SEC Charges Former Chairman/CEO of Schnitzer Steel for Authorizing Cash Bribes to Foreign Officials" (Press release). U.S. Securities and Exchange Commission. December 13, 2007.
  14. ^ Kenney, Brad (March 5, 2008). "Scrapping With the Chinese: Schnitzer Steel Industries". IndustryWeek.
  15. ^ Saker, Anne (November 4, 2008). "Schnitzer Steel names new CEO". American City Business Journals.
  16. ^ "Schnitzer buys Golden Recycling, terms undisclosed". The San Diego Union-Tribune. April 19, 2010.
  17. ^ "Schnitzer Acquires State Line Scrap". Association for Iron and Steel Technology. January 5, 2011.
  18. ^ Goldfield, Robert (January 4, 2011). "Schnitzer Steel buys State Line Scrap". American City Business Journals.
  19. ^ "Schnitzer's "Pick-n-Pull" Acquires Ferrill's Auto Parts of Seattle" (Press release). Business Wire. February 1, 2011.
  20. ^ "Schnitzer Steel buys Seattle firm". American City Business Journals. February 1, 2011.
  21. ^ Giegerich, Andy (February 6, 2013). "Schnitzer Steel moving HQ to downtown Portland". American City Business Journals.
  22. ^ Njus, Elliot (July 26, 2023). "Schnitzer Steel scraps name in rebranding". The Oregonian.
Quelle: http://en.wikipedia.org/wiki/Radius_Recycling