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The 117-year-old steel maker that's key to solving climate tech's recycling issue - TL;DR CNBC

The 117-year-old steel maker that's key to solving climate tech's recycling issue

Publishing timestamp: 2023-08-11 12:25:29


Summary

Schnitzer Steel, a company founded in 1906, has rebranded itself as Radius Recycling to better reflect its focus on the circular economy and the transition to a low-carbon, renewable energy-led future. The company, which started as a scrap metal recycler, has grown to become one of the largest manufacturers and exporters of recycled metal products in North America. The rebranding aims to highlight the company's recycling activities and its importance in the transition to low-carbon technologies. The name change is expected to resonate with ESG investors and open up new opportunities for the company. The rollout of the new name will take time, with the Nasdaq ticker symbol switching in September. The CEO, Tamara Lundgren, emphasizes the importance of listening to stakeholders and communicating during times of economic and market transition.


Sentiment: POSITIVE

Tickers: SCHN

Keywords: recyclingalternative and sustainable energymetal commoditiesbusiness newsschnitzer steel industries inc

Source: https://www.cnbc.com/2023/08/11/a-century-old-steelmaker-key-to-solving-climate-techs-recycling-issue.html


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