Schnitzer Steel Industries have been named as the Scrap Company of the Year by the American Metal Market trade group. The steel company have gained recognition for their quality recycling program and picked up the award at the AMM’s second annual Awards for Steel Excellence.

Tamara Lundgren, president and CEO of Schnitzer, commented “2010 was an extraordinary year of performance for Schnitzer, which continues to drive our accomplishments in the current year.

“We remain focused on our strategy to opportunistically invest in our growth and, as overall global demand for recycled metals gains momentum, we are uniquely positioned to benefit…”

The company generated $722 million (£450 million) in sales over the last quarter, generating a net income of $30.8 million (£19.2 million).