Schnitzer Steel Purchases Max Cohen and Sons

Date: December 15, 2006

Source: News Room

Schnitzer Steel Industries Inc. recently completed its purchase Max Cohen and Sons, a New Hampshire metals recycler. Max Cohen and Sons, under the name Advanced Recycling, handles roughly 250,000 tons of ferrous scrap metal annually. Terms of the deal announced in August were not disclosed.

Portland-based Schnitzer Steel (NASDAQ: SCHN) is one of the largest manufacturers and exporters of recycled ferrous metals products in the United States. It has 28 operating facilities in 11 states. It had $1.85 billion in revenue in fiscal 2006.

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