Proler International Corp

In December 1996, Proler International Corp. became a wholly owned subsidiary of Schnitzer Steel Industries, Inc., following the merger of PIC Acquisition Corporation, a wholly owned subsidiary of Schnitzer, with and into Proler. Previously, Proler International Corp., through its indirect wholly owned subsidiaries and joint operations, was primarily engaged in buying, processing, recycling, and selling ferrous and other scrap metals. Its indirect wholly owned subsidiary, Proler Recycling, Inc., sold precipitation iron, low residual steel, tin, copper, etchants, and specialty chemicals.