Credit woes delay Schnitzer ferrous deliveries, but no orders nixed

Oct 28, 2008 | 10:59 AM | Michael Marley

Schnitzer Steel Industries Inc. hasn't faced any order cancellations from offshore ferrous scrap customers, but is delaying some shipments while customers work to resolve credit availability issues.

John Carter, Schnitzer's president and chief executive officer, told industry analysts Tuesday that the company hasn't had any shipments canceled. Instead, the company has "worked with our customers who have some credit issues because of the tight credit markets."....

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