Schnitzer Board Announces a New Independent Director

April 29, 2015 | By Business Wire News

PORTLAND, Ore.

Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) today announced the election of Michael W. Sutherlin to its Board of Directors.

Mr. Sutherlin served from 2006 to 2013 as President and Chief Executive Officer of Joy Global, Inc., a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores with 2013 sales of $5 billion. Before joining Joy Global in 2003, Mr. Sutherlin served as President and Chief Operating Officer of Varco International, Inc. Mr. Sutherlin also serves as a director of Peabody Energy Corporation and Tesco Corporation. He graduated with a degree in business administration from the Texas Tech University, and earned an MBA from the University of Texas at Austin.

“We are very pleased to welcome Mike to the Schnitzer board of directors,” said Chairman John D. Carter. “His broad experience in all facets of leadership of a minerals-based public company will be an important addition to the capabilities and capacity of the Schnitzer board.” Mr. Sutherlin observed that “Schnitzer operates in markets I know well. I am familiar with the challenges and excited by the opportunities I see for Schnitzer. I look forward to working with this global leader and to contributing to future growth and success for the Company.”

About Schnitzer Steel Industries, Inc.

Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in North America with operating facilities located in 14 states, Puerto Rico and Western Canada. The business 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 its auto parts and steel manufacturing businesses. The Company’s auto parts business sells used auto parts through its self-service facilities located in 15 states and Western Canada. With an effective annual production capacity of approximately 800,000 tons, the Company’s steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. The Company began operations in 1906 in Portland, Oregon.