Ferrous Scrap

Toyota Tsusho America to acquire Radius Recycling for $1.34 billion

Written by Laura Miller

March 14, 2025

Radius Recycling is set to be acquired by Toyota Tsusho America in a transaction valued at $1.34 billion.

Radius, previously known as Schnitzer Steel, is a scrap recycler with 54 facilities in 25 states, Puerto Rico, and western Canada. It also operates Cascade Steel Rolling Mills, an EAF mill in Oregon that produces rebar, merchant bar, and wire rod. It also has 50 Pick-N-Pull used auto parts stores.

Toyota Tsusho America, based in New York City, is a subsidiary of Toyota Tsusho Corp. (TTC), an affiliate of the Japanese trading company Toyota Group.

On Thursday, the companies announced that Radius shareholders would receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year. The purchase price represents a 115% premium to Radius’ closing share price on March 12, the day before the sale was announced.

According to Radius, the deal will allow it to benefit from TTC’s relationships with OEMs and Tier 1, 2, and 3 suppliers.

Radius will remain headquartered in Portland, Ore., with its teams, brands, and legacy preserved, TTC said. It will honor collective bargaining agreements and employee contracts, it added.

“TTC is committed to investing in the development of Radius’ infrastructure and manufacturing capabilities across its operating sites,” TTC said, as it “recognizes the importance of innovative, closed-loop solutions to improving supply chains, manufacturing activity, and the environment.”

“Like Radius, TTC is a proven leader in metals and automotive recycling services and solutions, and we look forward to enhancing and expanding our offerings as part of their larger organization while continuing to drive our strategy forward,” said Tamara Lundgren, chairman and CEO of Radius.

“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,” added TTC President and CEO Ichiro Kashitani.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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