Metal Industry News

Toyota Tsusho America will acquire Radius Recycling, a Portland, Ore., based recycling company and minimill operator.

Toyota Tsusho, a U.S. subsidiary of Toyota Tsusho Corp., will acquire all Radius shares for $30 per share. Upon completion, Radius will continue to operate from its current headquarters in Portland, Ore. It operates the Cascade EAF and rolling mill in nearby McMinnville. Radius also operates third-party recycling services, Pick-N-Pull branded auto recycling and used parts retail stores. The company was previously known as Schnitzer Steel.

“We are excited to have reached this agreement with TTC, which builds on our longstanding relationship and provides us with increased opportunities for our talented team,broader products and services for our suppliers, customers and communities and an expanded platform for our more than 100 operating sites while delivering significant immediate value to our shareholders,” said Radius Chairman and CEO Tamara L. Lundgren.

Toyota Tsusho, Georgetown, Ky., operates eight sales divisions, including metal distribution. It was the 10th-largest service center company in North America in the 2024 MCN Top 50 with 2023 sales of $3.04 billion.“We look forward to collaborating with Radius, whose position as one of North America’s leading recycling companies aligns with our efforts to holistically improve recycling across the supply chain,” said Ichiro Kashitani, TTC’s president and CEO