Toyota Tsusho Finalizes Acquisition of Radius Recycling to Bolster Circular Economy Strategy

Toyota Tsusho Expands North American Presence with Radius Recycling Acquisition

Toyota Tsusho America Inc. (TAI), a subsidiary of Japan’s Toyota Group, has completed its acquisition of Radius Recycling Inc. The company was formerly known as Schnitzer Steel Industries. This deal strengthens TAI’s position in North America’s recycling and steel markets. Global demand for low-carbon materials continues to rise, making the timing of this acquisition strategic.

Radius is based in Portland, Oregon. It operates a recycled-content electric arc furnace (EAF) steel mill. The company also runs more than 50 metals recycling and auto dismantling sites. Although Radius posted eight consecutive quarters of net losses, it still maintains a solid infrastructure. TAI plans to revitalize these operations with greater stability and global support. Radius blames tight scrap flows and high Chinese steel exports for its recent financial struggles.

As part of the acquisition, Radius will keep its Portland headquarters and existing leadership. Its workforce, facilities, and brand will also remain unchanged. This shows TAI’s focus on long-term commitment and seamless integration. “Radius’ proven track record and strong presence in the North American recycling industry closely reflect our shared mission,” said Naoyuki Hata, TAI President and CEO. The acquisition supports Toyota Tsusho’s larger plan to improve resource efficiency and pursue carbon neutrality through circular economy practices.

Advancing the Circular Economy with Recycled Steel and Strategic Growth

The Radius acquisition greatly expands Toyota Tsusho’s recycling footprint in North America. Radius joins a portfolio that already includes Green Metals Inc., based in Kentucky. That network operates several recycling centers handling metal, cardboard, and plastic. TAI also owns steel and metal service centers in the U.S. and Mexico. Combined, these operations form a critical supply chain for recycled materials across the region.

Radius CEO Tamara Lundgren views the merger as a growth opportunity. “Joining forces with Toyota Tsusho opens new doors for Radius, our employees and our valued customers,” she said. The deal will help Radius reach key goals faster, including digital upgrades, more recycling capacity, and market expansion.

Radius shares will be delisted from the Nasdaq as a result of the transaction. This marks a shift to a privately held, integrated recycling model under Toyota Tsusho. The group sees this as a step forward in cutting emissions across the full vehicle lifecycle. More recycled steel in production means better results for customers and the environment.

SuperMetalPrice Commentary:

Toyota Tsusho’s move to acquire Radius Recycling is more than a strategic deal—it signals a global shift. Industrial giants are realigning supply chains to meet sustainability and carbon reduction goals. For Toyota, gaining upstream control over recycled steel supports its decarbonization roadmap. For Radius, this deal offers both capital and international scale. As demand for greener materials grows and regulations tighten, we expect more M&A activity in this sector. The North American recycling market is now in sharp focus for global investors.