TSR Recycling Group up for sale

Archiv – SHV Holdings, the Dutch owner of well-known metal recycling companies David J. Joseph Company (DJJC) in the USA and the TSR Recycling (TSR) in Europe, has announced its intention to sell the latter.
TSR’s activities extend to trade in raw materials, the sorting and processing of scrap, pollution appraisals, the recycling of car bodies, CFC removal and the recycling of electronic scrap.SHV Holdings, the Dutch owner of well-known metal recycling companies David J. Joseph Company (DJJC) in the USA and the TSR Recycling (TSR) in Europe, has announced its intention to sell the latter.
TSR’s activities extend to trade in raw materials, the sorting and processing of scrap, pollution appraisals, the recycling of car bodies, CFC removal and the recycling of electronic scrap. The largest steel scrap recycler in Germany and among the biggest in Europe, TSR operates more than 70 scrap yards across Germany, The Netherlands and the Czech Republic and has a total workforce exceeding 1000.
In 2004 and 2005, consolidated sales of the Bottrop-based TSR group were around Euro 1.5 billion (US$ 1.8 billion). TSR Recycling generated sales of just under Euro 1.2 billion (US$ 1.48 billion) in 2004, yielding a net profit of Euro 7.85 million (US$ 9.53 million).
TSR sells more than 10 million tonnes of scrap per annum and registers processed volumes in Germany of around 6 million tonnes. This puts it well ahead of Germany’s second and third largest metal scrap recyclers – Interseroh and Scholz AG – which process some 3.1 and 3 million tonnes per annum respectively.
SHV says it has recently received a number of unsolicited expressions of interest in purchasing its European recycling business. According to rumours within the industry, there are a number of potential buyers for TSR including Australia’s Sims Group, the aforementioned German companies Interseroh and Scholz, the French CFF group, and also EMR in the UK.
According to a press statement from SHV, it has decided to pursue an orderly sale of the TSR Recycling Group following a thorough strategic review of its recycling portfolio and careful consideration of the strong interest in the business. Preliminary work to prepare the company for sale has already begun, and has included engaging the services of the Dutch ABN AMRO bank as its financial advisor.
Completion of the sale process is expected within the next few months. TSR’s management has committed to remain with the company following the completion of the sale. SHV says it has no plans to sell its US-based DJJC recycling company.