Radius Recycling to be Acquired by Toyota Subsidiary in a $1.34B Deal
Metal Recycling News | 2025-03-17 12:59:16
Also, the company will continue to operate from its current headquarters.
By Paul Ploumis
SEATTLE (Scrap Monster): Radius Recycling, Inc., based in Portland, Oregon, stated that it and Toyota Tsusho America, Inc., the U.S. division of Toyota Tsusho Corporation (TTC), have reached a final merger agreement.
According to the agreement, Toyota Tsusho America, Inc. will pay $30.00 in cash for each Radius share. Radius' teams and operational facilities will remain after the transaction is finalized. Additionally, the business will keep running out of its present headquarters.
Subject to Radius Recycling's shareholders' approval, any required governmental clearances, and other standard closing requirements, the deal is anticipated to close in the second half of 2025.
Radius will be able to increase its chances of partnering with metals users and diversify its business thanks to TTC's solid connections with Tier 1, 2, and 3 suppliers and car OEMs. With TTC's financial support, the business will have more resources to invest in the ongoing growth of its metals recycling platform.
Radius Recycling's chairman and CEO, Tamara L. Lundgren, stated that the company is thrilled to have come to this deal with TTC. She noted that the agreement allows the business to start its next phase with TTC.
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