Portland-based Radius Recycling, formerly known as Schnitzer Steel Industries, acquired by Toyota Group company

Portland-based Radius Recycling — a 119-year-old company known as Schnitzer Steel Industries until 2023 — agreed to be acquired by a Toyota Group company.

PORTLAND, Ore. — This story comes from the Portland Business Journal, a KGW news partner. The Business Journal has the full story here.

Portland-based Radius Recycling — a 119-year-old company known as Schnitzer Steel Industries until 2023 — agreed to be acquired by a Toyota Group company at a valuation of $1.34 billion including debt, it announced Thursday.

The all-cash deal with Toyota Tsusho America Inc., a U.S. subsidiary of Toyota Tsusho Corp., is for $30 per Radius (Nasdaq: RDUS) share.

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