Core Points - Radius Recycling has entered into a definitive merger agreement with Toyota Tsusho America, Inc. (TAI), where TAI will acquire all shares of Radius for 65 billion in global revenue and a successful track record in acquisitions [3] - The transaction is expected to close in the second half of 2025, pending shareholder and regulatory approvals [7] Company Overview - Radius Recycling operates 54 facilities across 25 states, Puerto Rico, and Western Canada, focusing on ferrous and nonferrous metals recycling [9] - The company also runs 50 Pick-N-Pull stores, which sell used auto parts and receive over 4 million annual retail visits [9] - Radius' electric arc furnace and rolling mill in Oregon produce specialty products sold primarily in the Western U.S. and Canada [9] Strategic Benefits - TTC's financial support will enable Radius to invest in its metals recycling platform, auto recycling business, and other services, enhancing its operational capabilities [5] - The merger will allow Radius to leverage TTC's strong relationships with automotive OEMs and suppliers, diversifying its customer base and expanding business opportunities [5] - TTC is committed to maintaining Radius' workforce and honoring existing employee agreements, ensuring job security and community engagement [12]
RADIUS RECYCLING to be Acquired by U.S. Subsidiary of TOYOTA TSUSHO CORPORATION (TTC), Accelerating Investment in Future Growth