The Oregon Biz Report - Business News from Oregon

Read about accutane journal moderate acne here

Schnitzer Steel announces record quarter

July 1, 2008

Portland based Schnitzer Steel Industries, Inc. announced third quarter revenue up by 37% (year to year), this is an increase by $62 million. Revenues of $972 million was a quarterly record. Schnitzer Steel’s Executive Officer commented in their press release: “We are pleased to report the strongest quarterly financial results in the Company’s history, as each of our three operating divisions posted record revenues and operating income,” said John D. Carter, President and Chief Executive Officer. “Global demand for recycled metals remained robust, driven by economic growth in developing countries. In the Metals Recycling Business, our worldwide market visibility and flexibility to sell both domestically and internationally allowed us to take advantage of strong markets and significantly expand margins and operating income.”

“In the Steel Manufacturing Business, tight domestic supply conditions resulting from a low level of imports affecting our product lines contributed to record quarterly sales volumes and record selling prices for finished steel products,” added Carter. “The Auto Parts Business continued its focus on increasing vehicle purchases which led to its sixth consecutive quarter of year over year operating income growth.”

.

  
Print This Post Print This Post    Email This Post Email This Post

Discuss this article

no comments yet

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Articles

Press Releases



Top Business News

 

Top Women's News

 

Top Natural Resource News

 

Top Faith News

 

Copyright © 2016, OregonReport. All Rights Reserved. | Terms of Use - Copyright - Legal Policy | Contact Oregon Report

Stay Tuned...

Stay up to date with the latest political news and commentary from Oregon Business Report through daily email updates:

Delivered by FeedBurner

Prefer another subscription option? Subscribe to our RSS Feed, become a fan on Facebook, or follow us on Twitter.

RSS Twitter Facebook

No Thanks (close this box)