Germany / Luxemburg – Germany’s largest scrap recycler TSR is ‘interested’ in purchasing a majority stake in Luxembourg-based raw materials recycler Recylux, although submission of any formal takeover bid is on hold due to the interest shown by a number of rival parties, according to information provided to the Platts news service. However, neither company has made an official comment on the matter.
‘There are some other parties interested and also a number of funds and banks involved,’ a source has told Platts. Although no direct talks are said to have taken place between TSR and Recylux, channels of negotiation are understood to be open among several recyclers interested in Recylux. ‘Within two weeks we may know something,’ the source added.
Interest is also alleged to be coming from two other Western European recycling companies looking either to expand into areas of France, Belgium and Germany occupied by Recylux’s 15 sites or to take control of the company’s port terminal at Dordrecht in the Netherlands.
Recylux has a capacity to recycle 1 million tonnes per annum while TSR, for whom expansion into the French scrap market is understood to have been an objective for some time, handles more than 7 million tonnes a year through its own sites and also jointly-owned facilities in Germany, the Netherlands, Austria, the Czech Republic and Hungary.