Schnitzer Stays Qualified for Nasdaq

A scheduled Nasdaq delisting hearing for Schnitzer Steel Industries, Portland, Ore., has been cancelled, as the steel and scrap company now meets the listing criteria.

According to a news release from the company, it “has been notified by The Nasdaq Stock Market that the company is in compliance with Nasdaq’s requirements for continued listing.”

Specifically, Schnitzer Steel Industries has filed a Form 10-Q for its 2006 third quarter and amended Form 10-K for its fiscal year that ended Aug. 31, 2005 and Form 10-Ks for two additional quarters.

Schnitzer Steel Industries recycles and exports scrap metal at 28 processing facilities located in 11 states. The company also operates Pick-N-Pull and GreenLeaf auto parts recycling divisions and produces 700,000 tons per year of steel products at its Portland mill.