Schnitzer Steel Industries, Inc. has rebranded to Radius Recycling. The rebrand is part of an initiative to reflect the company's vision and purpose.
Radius Recycling has developed networks to collect, process, and deliver recycled metals around the world. As the global economy accelerates its shift toward low-carbon technologies, the demand for these metals has grown significantly. 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 Recycling better aligns with the company's role as a metal recycler, reflecting its position in the circular economy, and further its commitment to the recycling of essential metals required to support global carbon reduction.
"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."
Through its integrated operating model, the company diverts millions of tons of materials from landfills annually and delivers recycled metals to domestic and international customers. In addition, the company's 3PR third-party recycling services increase recycling rates and support the sustainability efforts of domestic retailers and manufacturers.
"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."
"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. "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."
The company will change its NASDAQ ticker symbol to RDUS at the start of its next fiscal year in September 2023.
