Robert W. Philip, Chairman and CEO of Schnitzer Steel Industries, Inc. announced the intention of Kurt Zetzsche, President of Cascade Steel Rolling Mills, Inc. to retire Nov. 5, 2004, shortly after his 65th birthday.

Zetzsche, President of Cascade Steel since January 1993, has been active in the steel manufacturing business since 1966, including serving as President of the former Knoxville Iron Co., Knoxville, Tenn., prior to joining Cascade Steel.

In commenting on the pending retirement, Philip noted that Zetzsche led the company through a period of substantial expansion, including installation of an automatic stacker/bundler and in-line straightener for the production of flats and angles, and the installation of a new rod and bar mill for the production of wire rod and coiled rebar. Installation of a new electric arc furnace, scheduled for December 2004, is expected to increase meltshop productivity. The company’s business also experienced substantial growth under Zetzsche's leadership, with the mill growing from approximately 350,000 tons annual production and sales to approximately 650,000 tons.

Philip also expressed to Zetzsche, "The Board of Directors and all our employees have sincerely appreciated the many years of dedication and hard work put in to making Cascade successful, and we extend to you our best wishes in the years ahead."

Reviewing his tenure at Cascade, Zetzsche expressed his particular pride of Cascade's workforce, citing the development of the strong, well trained, highly productive workforce as key factors in successful operation of the mill.

Philip noted that the company is in the process of promoting from within a Director of Operations, which is a newly created permanent position. This position is expected to be filled within the next month as part of an orderly transition of functions.