A Significant Rebranding Effort
The century-old metals recycling firm, founded by Sam Schnitzer in 1906, recently changed its name from Schnitzer Steel Industries Inc. to Radius Recycling.
Schnitzer has undergone a rebranding process to reflect its expanding vision, purpose, and influence on a global scale. The firm operates various scrap recycling centers and auto salvage yards in conjunction with an electric arc furnace steel mill powered by scrap materials. These changes are geared towards improving and advancing the company’s place within the 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,” Tamara Lundgren, CEO of Schnitzer Steel, states of the firm’s new name.
“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.”
An Updated Ticker Symbol
On September 1st, the recycling and steelmaking organization will begin trading under a new ticker symbol on NASDAQ. RDUS will be replacing SCHN as its new stock identifier for the upcoming 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,” Eric Potashner, Radius Recycling’s Chief Public Affairs and Communications Officer, stated.
Radius Recycling has announced that this will “further its commitment to advance the recovery, reuse, and recycling of the essential metals required to support global carbon reduction.”
Radius Focuses on Sustainability
When the company was known by its previous name, Radius highlighted that it had built a comprehensive set of systems for the gathering, processing, and delivery of recycled metals servicing clients around the globe. This comprised several auto shredding plants, plus seven deep-water export facilities on both the Eastern and Western coasts, as well as Hawaii and Puerto Rico.
“As the global economy accelerates its shift toward low-carbon technologies, the demand for these metals has grown significantly,” Radius Recycling stated. “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.”
Radius has also set up a complete system of producing steel with minimal carbon emissions and delivering recycled metals to customers in the United States and abroad. Additionally, its 3PR Third Party Recycling service provides a boost for sustainable initiatives geared towards American companies in the retail and manufacturing sectors, by raising recycling rates.
Numerous Awards for Radius Recycling
The newly named firm has made a name for itself amongst many prestigious organizations and publications. In 2023, it was listed as one of Time’s 100 Most Influential Companies and recognized as the Most Sustainable Company in the World by Toronto-based Corporate Knights. Its commitment to ethical standards was also rewarded by Arizona-based Ethisphere when it was named one of the World’s Most Ethical Companies for nine years straight.
Operating across the continent, from 25 states in the US to Canada and Puerto Rico, Radius Recycling has a vast range of facilities and continues to expand.
