Scrap Prices North America
April 6, 2015
Schnitzer Steel Industries to Restructure Divisons
Written by Sandy Williams
Schnitzer Steel Industries plans a “cost reduction, capacity reduction and productivity initiative” to improve its financial performance by $60 million annually by the end of 2016. In addition, the Auto Parts and Metals Recycling Business will be consolidated into a single division by the end of FY 2015.
“In the face of steep declines in commodity prices, we are taking deliberate and substantial steps to continue to lower our operating costs and generate positive cash flow,” said Tamara Lundgren, President and Chief Executive Officer.
