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Schnitzer
Steel Industries, Inc. Added to
KLD's Domini 400 Social Index
BOSTON,
MA - September 29, 2004 - KLD Research & Analytics, Inc.,
an independent investment research firm, announced today
that Schnitzer Steel Industries, Inc. (SCHN) has been
added to KLD's Domini 400 SocialSM
Index. Schnitzer Steel Industries, Inc. is headquartered
in Portland, Oregon.
Schnitzer Steel Industries, Inc. collects,
processes, brokers, and recycles metals through its recycling
business that includes Pick-N-Pull Auto Dismantlers, Inc.
a chain of self-service, used auto parts yards. The company's
Cascade Steel Rolling Mills, Inc. manufactures metal and
steel products and operates a steel mini-mill. The company
also operates deep water shipping terminals on the west
coast.
Reasons KLD added the company to the Domini 400 Social Index
- Schnitzer Steel operates
scrap metal processing facilities in several states,
where it recovers and processes scrap steel and other
metals for recycling. In 2003, the company sold approximately
1.8 million tons of scrap metal through its wholly-owned
recycling business, and an additional 3.3 million tons
through joint ventures.
- The company's Cascade Steel Rolling
Mills subsidiary operates a steel mini-mill whose primary
raw material is scrap steel.
- The company has good
union relations. The company's U.S. workforce is 42%
unionized.
About the KLD Family of Indexes
KLD’s
family of social, environmental and sustainability indexes
include: the Domini 400 SocialSM
Index (DS 400 Index), launched in 1990, is the established
benchmark for measuring the impact of social screening
on financial performance; the KLD Catholic Values 400SM
Index, launched in 1998, is modeled on KLD's DS 400; the
KLD Broad Market SocialSM
Index (KLD BMS Index), launched in 2001, is the screened
subset of the Russell 3000® Index; the
KLD Large Cap SocialSM
Index (KLD LCS Index), launched in 2001, is the screened
subset of the Russell 1000® Index; the
KLD NASDAQ Social Index (KLD NS Index), launched in 2002,
is modeled on the NASDAQ Composite Index; the KLD Select
SocialSM Index, launched
in 2004, is the first US index maximizing sustainability
factors.
About KLD Research & Analytics,
Inc.
KLD Research & Analytics, Inc. is an independent investment
research firm providing investment management tools used
by professionals to serve clients requiring investment
strategies based on social and environmental responsibility.
KLD products and services, including Socrates (a web-based,
company research tool) are used for screening, compliance
and asset gathering.
For more information about KLD or its family of Indexes,
please see our website (www.kld.com)
or contact Karen Agredo by phone (617.426.5270) or via
e-mail (kagredo@kld.com).
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