#United States #circular economy #Portland #Radius Recycling #Toyota Tsusho

Toyota Tsusho America Completes Acquisition of Radius Recycling

Toyota Tsusho America, Inc. (TAI), a subsidiary of Toyota Tsusho Corporation, announced the successful acquisition of Radius Recycling, Inc., a prominent name in the North American recycling sector with more than 100 operating locations. This strategic move not only promotes Toyota Tsusho's mission towards creating a circular economy but also reinforces the company's goal of progressing towards carbon neutrality.

Driving Sustainable Practices

The acquisition aligns perfectly with Toyota Tsusho's dedication to recycling throughout the automotive lifecycle. According to Naoyuki Hata, President and CEO of TAI, the addition of Radius to its portfolio signifies a commitment to developing better solutions for a sustainable future.

"We are thrilled to have Radius join the Toyota Tsusho family. Their strong reputation and established presence in the recycling industry dovetail seamlessly with our objectives to enhance the supply of quality recycled resources. This initiative will provide better solutions to our clients while reducing environmental impact," said Hata.

Radius Recycling has positioned itself as an industry leader for years, enabling it to attract new growth opportunities while further solidifying its leadership in North America’s recycling landscape. Radius’ CEO, Tamara Lundgren, expressed her enthusiasm for the merger, stating, "Joining forces with Toyota Tsusho opens up a world of possibilities for Radius and our customers."

A Standalone Business Model

Following the acquisition, Radius will maintain its operational independence, continuing from its existing headquarters in Portland, Oregon. The company plans to keep its existing management team and employees, as well as its operating facilities and brand identity, which underscores Toyota Tsusho's approach of enabling Radius to operate autonomously while benefiting from the broader resources provided by TAI. This partnership will drive Radius’ strategic priorities and capitalize on the strengths offered by both organizations, allowing them to thrive in the competitive recycling market.

Commitment to Circular Economy Initiatives

With this acquisition, Toyota Tsusho reinforces its commitment to sustainable practices and the circular economy—a model designed to eliminate waste while continuously utilizing renewable resources. By focusing on effective recycling solutions, both Radius and Toyota Tsusho aim to lessen the environmental footprint of the automotive industry significantly.

TAI boasts a rich history of over 60 years in the automotive sector and aims to leverage this experience to enhance Radius' operations. The partnership also targets expanding the capacity for processing high-quality recycled materials, which is crucial for industries interconnected with the automotive market.

The acquisition highlights a significant trend towards sustainability in business practices, emphasizing how companies can work together to ensure a more environmentally-friendly future.

Market Reactions and Future Outlook

Upon the announcement of the acquisition, Radius common shares will be delisted from the Nasdaq Capital Market. However, the immediate focus lies in the collaborational efforts that will follow, likely enticing investors and industry stakeholders keen on the evolution of sustainability practices.

As both companies adapt to the change brought forth by the acquisition, their shared vision of a sustainable future resonates deeply within corporate strategies. This move undeniably sets a foundation not only for a more productive company but also influences a widespread commitment toward green practices across industries.

To learn more about Toyota Tsusho America and its long-standing commitments, visit www.taiamerica.com.

In summary, the acquisition of Radius Recycling by Toyota Tsusho America is more than just a business transaction; it represents a strategic alignment towards sustainability, growth, and an unwavering commitment to environmental responsibility in the auto industry and beyond.