Snap Fitness coming to McMinnville
If owner Michael Harris reaches his goal, Snap Fitness will open Monday, Jan. 28, at 697 S.W. Keck Drive, next to Albertsons.
Snap is a national franchiser with about 35 outlets in Oregon. Their trademark is remaining open 24-7.
“We looked around on the west side of McMinnville and felt we could benefit the community with a fitness store on that side of town,” said Harris, a West Salem resident.
The facility will encompass 3,600 square feet. It will be staffed with trained instructors.
In addition to treadmills, ellipticals, weight machines and free weights, it will feature a 500-square-foot fitness room equipped with a video kiosk offering the services of a video instruction. “You can basically do your own fitness class on your own time,” Harris said.
Those who sign up at the local outlet will also have access to other gyms across the country. For more information, contact Harris at 503-379-0065.
Schnitzer Steel Industries, parent company of McMinnville’s Cascade Steel Rolling Mills, reported $3 million in adjusted operating income for the first quarter of its fiscal 2013 operating year, which ended in November. However, it reported an adjusted loss per share of $0.02 and a loss per share of $0.06.
Adjusted results do not reflect a $2 million pre-tax restructuring charge associated with cost reduction initiatives announced in August. The initiatives included elimination of about 300 positions, about 7 percent of a workforce then numbering 4,100.
Total revenue ran $593 million, down 27 percent from the $812 million recorded in the first quarter of its 2012 fiscal year. In the metals recycling portion of its business, revenue totaled $494 million, down 32 percent from $728 million.
Schnitzer’s auto parts business posted revenue of $70 million, down 17 percent from $84 million. Revenue ran $92 million at its steel manufacturing business — which includes the mill operation in McMinnville — up 15 percent from $80 million.
Steel manufacturing volume was up 22 percent for the period. Steel prices were down about 6 percent, partially offsetting the increased production.
The company said steady market conditions in the steel business, combined with an improved utilization rate of 70 percent at the mill, and reduced raw material costs, combined to produce $3 million in first-quarter operating income.
For more information, visit www.schnitzersteel.com.
Payne Financial Group and Western States Insurance announced in September that they had agreed to merge their operations to create a single employee-owned company.
As an outgrowth, they have adopted a new name — PayneWest Insurance. It is now reflected at the McMinnville office, located at 1411 N.E. Adams St.
Molly Walker, the News-Register’s business editor, can be reached at firstname.lastname@example.org or 503-687-1272.