TSR Recycling acquires Lindauer & Co. assets

Steel scrap group TSR Recycling GmbH & Co. KG, Lünen, Germany, acquired parts of the movable fixed assets of scrap metal merchant Lindauer & Co. GmbH, Heilbronn, Germany. According to TSR, Lindauer is currently subject to insolvency proceedings, and TSR will not take over the operative part of the merchant nor merge it with TSR’s Heilbronn site. 

As a result of the acquisition, TSR says operations will not be continuing for Lindauer & Co. GmbH. Parts of movable fixed assets that TSR has purchased will be integrated in the TSR plants. TSR adds that its parent company, Remondis GmbH & Co. KG, has purchased the real estate of Lindauer’s site independently. According to the company, Remondis plans to use the purchased site for establishing its own operations. 

TSR says it is also conducting negotiations with Lindauer’s works council regarding the status of Lindauer employees. Lindauer also handles nonferrous metals in addition to steel scrap.
TSR handles about 6.5 million metric tons per year of steel scrap, serving as one of the largest scrap merchants in Germany. German waste management company Remondis gained full ownership of TSR last year by acquiring 20 percent of shares from Italian steel producer Alfa Acciai.