Radius Recycling, one of the largest metal recycling and steel manufacturing companies in the United States, will be acquired by Toyota Tsusho Corporation, the two companies announced March 13.
Radius, formerly known as Schnitzer Steel, is one of a handful of publicly traded corporations headquartered in Oregon. It operates more than 100 metal and auto recycling facilities throughout North America, plus Cascade Steel Rolling Mills, an electric arc furnace and rolling mill in McMinnville, Oregon.
United Steelworkers (USW) Local 8378 represents around 280 workers at Cascade Steel Rolling Mills.
Ron Rodgers, USW subdistrict director, said Radius Recycling VP and Cascade Steel president Matt Ruckwardt assured him that the new owners will honor the union contract and continue operations as usual.
Toyota Tsusho is part of the Toyota Group, which also includes the Toyota car maker.
In a March 13 letter to Rodgers released in SEC filings, Ruckwardt said Toyota Tsusho’s support would give Radius more ability to invest in growing Cascade.
The acquisition is expected to be completed in the second half of 2025, pending approval by federal regulators and Radius shareholders.
Radius Recycling is headquartered in Portland.
IBEW also represents workers at some Radius Recycling facilities. IBEW Local 48 represents workers at a North Portland scrap recycling yard, while IBEW Local 280 represents 11 workers at a Eugene facility.
