In this issue ...
Schnitzer Steel Industries, Inc. released its financial results for its fiscal 2016 second quarter ended February 29, 2016. The company announced an adjusted loss per share from continuing operations of $0.25. The company said it reported a loss of $0.28 adjusted loss per share from continuing operations in the same quarter in 2015. The company contributed the improvement to higher AMR adjusted operating income and decreased corporate expense.
Schnitzer Steel Industries stated that during 2016’s second quarter, it was still affected by a significant weaker export demand in the latter half of the second quarter, which led to ferrous and nonferrous sales prices falling to multi-year lows, but the company noted that export ferrous sales prices for shipments began to improve by the end of February and continued to show strength through March.
“The combination of weak export demand, constrained supply conditions, seasonal slowdowns and the higher level of steel imports contributed to a challenging second quarter. Our focus on productivity and cost reduction initiatives enabled us to improve our results compared to last year’s second quarter in an environment in which our average ferrous sales prices were down over 40 percent and near ten-year lows,” commented Tamara Lundgren, President and Chief Executive Officer. “As market conditions strengthen, we anticipate these productivity and cost reduction initiatives will contribute to expanded margins and improved financial performance.”
Schnitzer Steel Industries, Inc. is one of the largest manufacturers and exporters of recycled metal products in the United States with operating facilities located in 24 states, Puerto Rico and Western Canada. Schnitzer 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 auto parts stores and steel manufacturing. 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 began operations in 1906 in Portland, Oregon. Schnitzer operates Pick-n-Pull, one of the nation's premier self-service used auto parts networks with 53 auto recycling facilities in the United States and 15 in Canada. Visit www.schnitzersteel.com.
Car-Part.com has issued a release to update auto recyclers about a scam that occurred in March involving an auto recycler’s data. It was originally reported that someone claiming to be working for Car-Part.com contacted an auto recycler in an attempt to access their system. Car-Part stated that it sent out a message in an effort to proactively notify recyclers of the reported incident as soon as possible so that recyclers could best protect themselves.
“After investigating the matter further, it is now clear the reported social hacking did not occur. The recycler confirmed that they had infected their system with a ransomware virus by opening an email. The email did not claim to be from Car-Part.com,” the company stated in its release.
Car-Part.com also stated none of its software, services or employees were involved. But, the company did warn that these attacks can happen to anyone and to use best practices to protect against both social hacking and viruses.
You can read Car-Part.com’s complete statement here: http://products.car-part.com/press/reportedincidentupdate.html.
B & R Auto Wrecking announced it is adding 2.5 acres of land, adjacent to its Las Vegas, Nev. location. The extra land will be used primarily to store parts vehicles, stated Brian Perlenfein, the company’s senior business advisor.
“We are extremely excited to be able to have the extra space to store end of life vehicles. Anytime we can add space for more cars it’s a positive step for our company, team members and customers,” he said.
The total acreage now at the 4540 Smiley Road Las Vegas, Nev. location is just about 10. In addition to the added acreage in Las Vegas, B & R Auto Wrecking has also finalized the purchase of six acres neighboring its newly acquired Carson City, Nev. location. Those six acres, added to the existing eight acres will bring B & R Auto Wrecking’s newest location to 14 total acres. Perlenfein expects that area to be fenced in and operating in a few months.
“The customers in this market have welcomed us with open arms. We are very proud to be here and now with additional space to have the product the Reno, Sparks and Carson City markets demand, we feel we can service them even quicker than before,” Perlenfein remarked.
B & R Auto Wrecking (www.autowrecking.com) operates 15 facilities in Oregon, Washington and Nevada and employs more than 350 team members, with additional sales professionals working remotely from offsite offices. Transit trucks travel between locations at night to transfer parts to and from locations.
We would like to clarify our position on opinion articles. The Locator UpFront regularly asks for, and receives, articles from those in the industry, like recyclers, manufacturers, suppliers and consultants, and while we use normal publishing protocol at the end of each article to identify an industry contributor, it may not always be clear to our readers as to which articles are opinion, like the articles contributed by Mike Kunkel and Marty Hollingshead in the Spring 2016 issue, and which are features. While we encourage differing opinions from those in the industry, The Locator would like to confirm that it does not endorse or oppose any of the opinions given. We will be adding a statement to clarify further in all future contributor articles.
Spring is a busy time for those in the auto recycling industry. Many state and national associations pick this time to hold annual events. Some of these events include:
- The Automotive Recyclers of Minnesota (ARM) and Cars of WI will jointly hold their 2016 Upper Midwest Auto Recyclers Convention & Trade Show on April 15 - 16 at Pam’s Auto in St. Cloud, Minn.
- ARA’s 2016 Hill Day & Legislative Summit on April 17 - 19 in Washington D.C.
- The 2016 International Roundtable on Automotive Recycling will be held April 20 – 24 in Malacca City, Malaysia, co-hosted by the Malaysia Automotive Recyclers Association and the Malaysia Automotive Institute (www.irt-autorecycling.org).
- The 2016 URG Training Conference is April 28 - 30 and held at the Hyatt Hill Country Resort & Spa in San Antonio, Texas.
- The Automotive Recyclers of Michigan will hold its 2016 Annual Road Show & Business Networking Conference on May 13 -14 at Highway Auto Parts in Roseville, Mich.
For more details and contact information about these events, or future events, visit our website www.partslocator.com/Events/.
June 2016 Deadlines
April 27, 2016: Listings for The Locator Magazine.
May 2, 2016: Display ads for The Locator Magazine.
May 5, 2016: The Locator Magazine goes to press.