Schnitzer Steel Industries, Inc. Provides Earnings Guidance for the Full Year of 2018
January 09, 2018 at 11:30 am EST
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Schnitzer Steel Industries, Inc. provided earnings guidance for the full year of 2018. For the fiscal year as a whole, the company expects to invest CapEx in the range of $55 million to $70 million. The company anticipates this will include investments in environmental capital projects, upgrades and replacement of mobile equipment, supporting increased volumes, further investment in nonferrous processing technologies and capital spend on maintaining the business. The company expects effective tax rate to be lower as a result of a recently enacted federal tax reform.
Radius Recycling, Inc., formerly Schnitzer Steel Industries, Inc., is a manufacturer and exporter of recycled metal products. The Company also operates a third-party recycling (3PR) service, which includes materials management, reverse logistics, railcar dismantling, and vehicle recycling services. The Company operates scrap recycling facilities in 25 states, western Canada, and Puerto Rico. It has 54 metals recycling facilities, including seven shredding operations. The Companyâs integrated operating platform also includes 50 stores which sell serviceable used auto parts from salvaged vehicles and receive over four million annual retail visits. Its steel manufacturing operations produce finished steel products, including rebar, wire rod, and other specialty products. The Company has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company's subsidiaries include Auto Parts Group Southwest, LLC, Edman Corp., and others.
RADIUS RECYCLING, INC. 
