Schnitzer Steel Restarted Production at Cascade Steel Mills

Schnitzer Steel Industries, Inc. announced successful restart of production at its Cascades Steel Rolling Mills in Oregon. The company has almost completed replacement and repairs of property and equipment at the mill’s melt shop, which were lost or damaged by a fire in May this year. It restarted production earlier this week with a full workforce, ahead of schedule. Schnitzer Steel has reportedly started accepting new orders for its full range of finished steel products. Only a limited number of sales is expected to be completed before end-August, it noted. Commenting on the milestone development, Tamara Lundgren, Chairman and CEO, Schnitzer Steel Industries noted that the company is proud of the team’s exceptional efforts to bring back the mill into production, well ahead of schedule, thus enabling it to support its customers to meet the demand for high-quality finished steel products, Lundgren added. The company press release also stated that entered into a definitive agreement with Columbus Recycling to acquire eight operating facilities spread across the Southeast region of the country. The transaction is expected to close during the first quarter of fiscal year 2022, subject to necessary regulatory approvals. The acquired operations will add to recycling products, services and logistics solutions to customers, thereby delivering significant boost to Schnitzer’s total ferrous volumes.