Schnitzer’s recycling losses drive further cuts

Oct 29, 2013 | 12:08 PM | Sean Davidson

Tags  Schnitzer Steel Industries, recycling, earnings results, ferrous scrap, nonferrous scrap, Sean Davidson

WARSAW, Poland — Schnitzer Steel Industries Inc.’s metals recycling business recorded operating losses of $312 million for its fiscal year ended Aug. 31, in contrast to earnings of $64 million the previous year, on a 25-percent drop in revenue to $2.21 billion, which the company said will result in further layoffs and restructuring....

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