OREANDA-NEWS. Toyota Tsusho Corporation has agreed to acquire 39.9% of the shares of Scholz AG ("Scholz Group") from the Scholz family on 9th April. The deal is expected to be closed still within the second quarter of 2014 after final negotiations of definitive agreements with the existing lenders of Scholz Group for continued support  and after merger control clearances in relevant jurisdictions. After the share acquisition, we are planning to dispatch own employees to the board of directors of Scholz Group.

Scholz Group is a recycler having the world's second largest transaction volume for scrap metals. The company has a global procurement network for recycling materials including end-of-life automobiles in 26 countries, mainly located in Europe. Scholz Group is a leader in the industry and has recently been extensively involved in high level filtering which enables collection of scrap metal from milled left-over waste.

TTC's mid-term plan targets a "Global expansion of the recycling business".We have always been the leading player in the automobile recycling market and have strived to develop the most innovative business model. Our investment in Scholz Group gives us access to the technology and know-how of Europe, which is another forefront region in the recycling business. TTC will continue to contribute in the development of a sustainable society by providing recycling infrastructures to emerging countries.