PORTLAND, Ore.--(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.