Radius Recycling is new name for Schnitzer

Portland, Oregon-based Schnitzer Steel Industries Inc. has changed its name to Radius Recycling, setting aside the family name of Sam Schnitzer, who founded the metals recycling firm in 1906.

The company, which operates a network of scrap recycling and auto salvage facilities as well as one scrap-fed electric arc furnace (EAF) steel mill, says the rebranding has been designed to reflect its vision, purpose and impact on the global circular economy.

“While metals recycling and steel manufacturing have been the foundation of our global business for many decades, our company’s reach now extends far beyond what the name Schnitzer Steel implies,” CEO Tamara Lundgren says of the newly named firm.

“Our growth has been marked by expansion in both scope and scale, and we now operate in over 100 communities across North America. Radius Recycling is a name that represents our 3,500 employees, thousands of stakeholders and a future in which recycled metals sit at the center of progress, seamlessly connecting all points within the circular economy.”

The recycling and steelmaking firm will change its NASDAQ ticker symbol to RDUS (from the current SCHN) in September at the start of its next fiscal year.

“This is an exciting next step in our company’s history, with an identity that reflects the essential services we provide to the communities in which we operate and the positive global impact of our products," Radius Recycling Chief Public Affairs and Communications Officer Eric Potashner says.

The company says it will “further its commitment to advance the recovery, reuse and recycling of the essential metals required to support global carbon reduction.”

Under its previous name, Radius says it developed robust networks to collect, process and deliver recycled metals to customers around the world. Those operations include several auto shredding plants and seven deep-water export facilities on both the East and West coasts and in Hawaii and Puerto Rico.

“As the global economy accelerates its shift toward low-carbon technologies, the demand for these metals has grown significantly," the firm says. "Electric vehicles and renewable energy systems, widely acknowledged as crucial components of a sustainable future, require more metals compared to the technologies they are replacing.”

As currently configured, the firm delivers recycled metals to domestic and international customers and produces low-carbon emissions finished steel products. Radius also operates the 3PR Third Party Recycling service, which it says increases recycling rates and supports the sustainability efforts of American retailers and manufacturers.

Recent accolades for the newly named firm include being listed as one of Time’s 100 Most Influential Companies of 2023, being recognized as the Most Sustainable Company in the World by Toronto-based Corporate Knights in 2023 and being honored by Arizona-based Ethisphere as one of the World’s Most Ethical Companies for nine consecutive years.

Radius Recycling operates scrap recycling facilities in 25 states, western Canada and Puerto Rico, plus 50 auto salvage/retail auto parts stores and its EAF steel mill in Portland.