|By Marketwired .||
|June 27, 2014 08:00 AM EDT||
NEW YORK, NY -- (Marketwired) -- 06/27/14 -- The American Metal Market Awards for Steel Excellence honor best-in-class companies in or in support of the global steel industry. Columbus Scrap Material was selected as the winner in the small to medium Scrap Company of the Year category.
COLUMBUS SCRAP MATERIAL INC. (CSM) is one of the fastest growing regional providers of ferrous and nonferrous metal recycling services with five facilities in Mississippi and Tennessee. Its customers are primarily industrial manufacturers ranging in size from Fortune 500 accounts to regional and local businesses, as well as daily peddler customers, while its consumers include multibillion-dollar foundries, and metal manufacturing facilities.
Columbus, Mississippi based CSM's model is built on providing value-added programs and services, including logistics management, materials sorting, cutting, baling, upgrading and sourcing of material. CSM markets and sells ferrous and nonferrous products directly to local foundries, steel mills, specialty mills and smelters.
Founded in 1956 by Henry Weiss, he was later joined by Gregg Rader in 1991 as vice president of operations. Gregg became an owner in 1996 and currently is CEO. CSM has a track record of retaining and growing its customers: It has retained 95 percent of its top 20 customers over the past five years while increasing its volume by 12% with those customers, during that same period.
CSM has built a business that is centered on best-in-class operating efficiency relative to its competitors. It has benchmarked itself against other major publicly traded companies and rank first overall as measured by sales per employee, tons per employee, ferrous price per ton, nonferrous price per ton, freight cost per ton (local logistics advantage) and inventory turns. CSM offers sophisticated pricing methodology, strong market knowledge, low conversion cost; best-in-class payment terms (10 days); and regulatory compliance through operational excellence.
The company has stated they have a deep and experienced management team with a record of success in good and bad markets, stable, predictable, recurring cash flow; strong earnings performance through the cycle and a business model that limits risk associated with changes in raw material prices. CSM's goal includes doubling the size of the business over the next five years.
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