Schnitzer Steel Industries, Inc. announced its new corporate name and identity, Radius Recycling. According to a press release, the change in name is part of a rebranding initiative that will better reflect the vision, purpose and impact on the global economy the company has.
“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,” explained Chairman and CEO, Tamara Lundgren. “Our growth has been marked by expansion in both scope and scale, and we now operate in over 100 communities across North America. Our work and our purpose have never been more relevant than they are today,” she continued.
Radius began operations in 1906 in Portland, Oregon. The company has grown with facilities in 25 states, Puerto Rico, and Western Canada. Radius has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The company’s integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over 4.1 million annual retail visits. The company’s steel manufacturing operations produce finished steel products, including rebar, wire rod and other specialty products.
“Our new identity clearly affirms our vision for a sustainable future,” Lundgren remarked. “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.”
As Radius Recycling, the company believes the new identity will better align with its role as one of the largest metal recyclers, more closely reflect its position in the circular economy, and further its commitment to advance the recovery, reuse, and recycling of the essential metals required to support global carbon reduction.
“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,” said Eric Potashner, chief public affairs and communications officer at Radius Recycling. “While our name will be changing, our core values of safety, sustainability and integrity will continue to serve as the foundation of our culture and will guide us for the next hundred years.”
Radius Recycling will change its NASDAQ ticker symbol to RDUS at the start of its next fiscal year in September 2023.