Recognition shows dedication to implementing standards and systems promoting ethical business practices.
PORTLAND, OR – November, 13, 2014 – The Ethisphere Institute announced today that Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) has earned the Ethics Inside® Certification and Anti-Corruption Program Verification™.
Ethisphere, the provider of independent verification of corporate ethics and compliance programs, awards Ethics Inside Certification and Anti-Corruption Program Verification exclusively to companies which demonstrate the existence of a superior employee and leadership culture that promotes ethical business practices. In addition, the recipients must be able to prove they have designed, implemented and enforced a robust, best-in-class anti-corruption program which is capable of reasonably detecting and preventing bribery and corruption.
“The resources Schnitzer has committed to its ethics and compliance programs reflect a genuine dedication to the importance of ethics and compliance,” said NYSE Governance Services Compliance Counsel Izah K. Gallagher. “This dedication is evident from the highest levels of the organization and fosters a culture of integrity throughout the organization.”
“Safety and integrity are two of Schnitzer’s core values. We are proud to have our ethics and anticorruption programs recognized with these designations, as they validate our commitment to conducting our business with the highest ethical standards,” said Tamara Lundgren, Schnitzer President and CEO. “As a global company with more than 3,300 employees, investing in systems and controls and using best-in-class processes to safeguard our organization is paramount.”
“We would like to congratulate Schnitzer for earning the Ethics Inside Certification and Anti-Corruption Program Verification,” said Michael Byrne, Senior Vice President and General Counsel of Ethisphere. “They join an exclusive group of companies which have implemented standards, systems and programs to reasonably prevent compliance failures and ethical breakdowns.”
About Schnitzer Steel
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled ferrous metal products in the United States with operating facilities located in 14 states, Puerto Rico and Western Canada. The business has seven deep water export facilities located on both the East and West Coasts and in Hawaii and Puerto Rico. The Company’s integrated operating platform also includes its auto parts and steel manufacturing businesses. The Company’s auto parts business sells used auto parts through its self-service facilities located in 16 states and Western Canada. With an effective annual production capacity of approximately 800,000 tons, the Company’s steel manufacturing business produces finished steel products, including rebar, wire rod and other specialty products. The Company commenced its 109th year of operations in 2014.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere honors superior achievement through its World’s Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the Ethisphere Magazine. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™.
Schnitzer Steel Industries, Inc.
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