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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____ )*
Schnitzer Steel Industries, Inc.
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(Name of Issuer)
Class A Common Stock, par value $1.00
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(Title of Class of Securities)
806882106
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 806882106 13G PAGE 2 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wanger Asset Management, L.P. 36-3820584
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
Not Applicable (b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
538,700
OWNED BY
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EACH SOLE DISPOSITIVE POWER
7
REPORTING None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
538,700
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
538,700
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
Not Applicable [_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
9.51%
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TYPE OF REPORTING PERSON*
12
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 806882106 13G PAGE 3 OF 7 PAGES
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NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Wanger Asset Management, Ltd.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
Not Applicable (b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
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SOLE VOTING POWER
5
NUMBER OF None
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
538,700
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING None
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
538,700
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
538,700
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
Not Applicable [_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
9.51%
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TYPE OF REPORTING PERSON*
12
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a) Name of Issuer:
Schnitzer Steel Industries, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
3200 N.W. Yeon Avenue, P.O.Box 10047
Portland, OR 97296-0047
Item 2(a) Name of Person Filing:
Wanger Asset Management, L.P. ("WAM")
Wanger Asset Management Ltd., the general partner of WAM
("WAM LTD.")
Item 2(b) Address of Principal Business Office:
WAM and WAM LTD. are located at:
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606
Item 2(c) Citizenship:
WAM is a Delaware limited partnership.
WAM LTD. is a Delaware corporation.
Item 2(d) Title of Class of Securities:
Class A Common Stock, par value $1.00
Item 2(e) CUSIP Number:
806882106
Item 3 Type of Person:
(e) WAM is an Investment Adviser registered under section
203 of the Investment Advisers Act of 1940; WAM LTD. is the
General Partner of the Investment Adviser.
Page 4 of 7 pages
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Item 4 Ownership (at December 31, 1997):
--
(a) Amount owned "beneficially" within the meaning of rule
13d-3:
538,700 shares
(b) Percent of class:
9.51% (based on 5,664,826 shares outstanding at January
1, 1998)
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
none
(ii) shared power to vote or to direct the vote:
538,700
(iii) sole power to dispose or to direct the
disposition of: none
(iv) shared power to dispose or to direct
disposition of: 538,700
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
The shares reported herein have been acquired on behalf of
discretionary clients of WAM. Persons other than WAM and
WAM LTD. are entitled to receive all dividends from, and
proceeds from the sale of, those shares.
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Page 5 of 7 pages
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Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose
of and do not have the effect of changing or influencing the
control of the issuer of such securities and were not acquired in
connection with or as a participant in any transaction having
such purpose or effect.
Page 6 of 7
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Signature
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 6, 1998
The undersigned corporation, on the date above written, agrees
and consents to the joint filing on its behalf of this Schedule
13G in connection with its beneficial ownership of the security
reported herein.
WANGER ASSET MANAGEMENT, LTD.
for itself and as general partner of
WANGER ASSET MANAGEMENT, L.P.
By: /s/ Bruce H. Lauer
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Bruce H. Lauer
Vice President
Page 7 of 7 pages
