Japanese giant claims stake in metal recycler Scholz

Germany – Toyota Tsusho, which forms part of Japan’s Toyota Group, is taking a substantial share in German ferrous and non-ferrous scrap recycler Scholz. Subject to approval by anti-trust authorities, Toyota is expected to complete the purchase before the end of the second quarter.

Toyota is set to gain a 39.9% stake in the recycling company – a move which is said to mean a ′significant strengthening of Scholz′s financial situation′. Oliver Scholz will remain in his role as ceo; however, Toyota will also appoint members to Scholz′s board of directors.

Scholz has been in financial difficulties for some time and officially launched the search for an investor at the end of 2013. In announcing Toyota′s share acquisition, the scrap recycler stressed that the investment would create a basis on which its ongoing reorganisation could be successfully completed.

For more information, visit: www.scholz-ag.de/en