Switch to Scholz Holding GmbH occurs after Toyota Tsusho takes large stake in German scrap company.
Scholz AG, a recycler of ferrous and nonferrous scrap, has officially changed its name to Scholz Holding GmbH. The company, based in Essingen, Germany, had its new name officially documented in Germany’s commercial register on May 22, 2014. The name complies with the new ownership structure of the company.
The decision to change the name followed the completion of the transaction with Toyota Tsusho Corp., which has taken a 39.9 percent stake in Scholz Holding. The remaining shares will stay with the Scholz family.
Through the change from a stock corporation to a private limited company, the management body of the company now consists of a board as well as decisions arising at the general meeting of shareholders. The change of legal form “leads to an organizational simplification in line with an efficient corporate governance,” according to the company.