Rebar lifts Cascade’s operating profit

Apr 04, 2014 | 04:01 PM | Frank Haflich

Tags  Cascade Steel Rolling Mills, Schnitzer Steel Industries, steel, rebar, Tamara Lundgren, Cascade Steel Rolling Mills, Frank Haflich

LOS ANGELES — Rising shipments, driven by a 44.2-percent gain in rebar sales, led Schnitzer Steel Industries Inc.’s steel manufacturing business to more than triple its operating profit during the fiscal second quarter.

Operating income for Schnitzer’s steel manufacturing segment—essentially Cascade Steel Rolling Mills Inc., McMinnville, Ore.—totaled $3.57 million for the three months ended Feb. 28 on revenue of $81.5 million compared with operating income of $1.04 million on revenue of $71.2 million a year earlier.....

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