JX Metals and Sojitz collaborate with Canada’s largest recycler of household appliances and electronic devices
Torys acted as counsel to Sojitz with a team led by Don Bell and that includes Sarah Magee, Meghan McKeever and Matt Bean (corporate/M&A), Tyson Dyck and Henry Ren (environmental), Tom Stevenson (employment), Craig Maurice and Steve Marshall (tax).
On February 10, 2023, it was announced that JX Nippon Mining & Metals Corporation (“JX Metals”) and Sojitz Corporation (“Sojitz”) reached an agreement in which Sojitz would acquire a 34% stake in eCycle Solutions Inc. (“eCycle”), a wholly-owned subsidiary of JX Metals and Canada’s largest collector and processor of e-waste (discarded household appliances and electronic devices).
Closing of the transaction took place on March 22, 2023.
Further information on the transaction can be found on Sojitz’s website.
eCycle is an IT asset management solutions provider. It currently operates seven recycling sites in Canada with well-established collection networks, where electronic waste is appropriately processed and sorted into copper, precious metals, iron, aluminum, and plastics, and then sold as recycled materials. It also provides IT Asset Disposition (ITAD) services.
Sojitz is a general trading company developing a wide range of businesses in countries and regions around the world, which possesses overseas business operation know-how in a wide range of fields.
JX Metals is Japan’s leading copper smelter and refiner. It conducts global business operations in the area of nonferrous metals, focusing primarily on copper and rare metals.