Radius Recycling, Inc., a US scrap recycler and steel producer, had reached a merger agreement with Toyota Tsusho America (TAI), a US subsidiary of Japanese trading house Toyota Tsusho Corporation (TTC). 

Under the agreement, TAI will acquire all shares of Radius for approximately US$1.34 billion. Following the transaction, Radius will continue to operate from its headquarters in Portland and retain its employees, facilities, and brand.

Same as Radius, TTC is a recognized leader in the field of metal and automotive recycling. The transaction will provide Radius with the opportunity to benefit from TTC's financial strength, recycling technology, and experience in providing recycling services to the automotive industry.

The transaction brings two companies committed together to driving the circular economy by increasing recycling and reducing waste in the industrial, manufacturing, and retail sectors.