Autocirc and Scholz Group sign Letter of Intent to expand European market reach
Autocirc and Scholz Group are pleased to announce the signing of a Letter of Intent (LOI) to establish a strategic partnership aimed at expanding their geographical reach and operational growth across several key European markets.
Autocirc will work collaboratively with Scholz Group, a leading global entity in steel and metal scrap trading, processing and recycling. Scholz Group's extensive network of yards and recycling facilities, especially in Central and Eastern Europe, will support Autocirc with a fast and effective way to expand its coverage across these markets. By integrating the core operations of both companies - recycling and car dismantling - the partnership aims to significantly increase the volume, quality and availability of parts from end-of-life vehicles (ELVs) and recycled high-quality raw materials.
"This co-operation between Autocirc and Scholz Group is very well complementing our established European expansion strategy and it is therefore gratifying that we have succeeded in signing this Letter of Intent" says Petteri Saarinen, CEO of Autocirc. "We look forward to embarking on this partnership which aligns perfectly with our vision of promoting sustainable automotive recycling. This collaboration will not only expand our geographic footprint but also enhance our ability to provide quality car parts to our customers."
Henry Qin, CEO of Scholz Group adds "We are excited to join forces with Autocirc in this strategic partnership. Our combined expertise and resources will drive significant environmental benefits and support the circular economy. Together, we aim to set new standards in the automotive recycling industry, ensuring the efficient processing and reuse of valuable materials from ELVs."
For further information, please contact:
Petteri Saarinen, CEO Autocirc Group
[email protected]
+46 72 224 16 72
Henry Qin, CEO Scholz Group
[email protected]
+49 7365 84 70
Autocirc works for a circular transition in the automotive industry. We ensure that used car parts get back on the road again - or that materials and components can be used in completely different products and contexts. By moving from new production to reuse, remanufacturing, repurpose and recycling of car parts, we are making the second-hand market the first choice. A sustainable choice for a smarter automotive industry and a better alternative, also for the next generation.
Autocirc was founded in 2019 and is growing rapidly. Today, the group consists of 63 companies with over 1150 employees and operates in Sweden, Norway, Finland, the UK, Poland, Germany, France and Portugal.
