Sims Joint Venture Acquires Silver Dollar Recycling
Sims Group Limited (Sims) announced today that SA Recycling – a joint venture between Sims and Adams Steel operating in Southern California, Arizona and Nevada – has acquired a 70% interest in Silver Dollar Recycling, Las Vegas, Nevada.
Silver Dollar Recycling operates a shredder and has a leading position in Las Vegas.
The financial terms of the deal, including price, were not disclosed, however the cost is not material to Sims.
Sims (www.sims-group.com) is the world’s largest listed metal recycler with over 230 operations globally. Sims’ core businesses are metal recycling and recycling solutions. Sims earns around 80 per cent of its revenue from international operations in the United Kingdom, Continental Europe, North America, New Zealand and Asia. Sims has over 6,000 employees, pro-forma turnover in fiscal 2008 of over A$10 billion and has its ordinary shares listed on the Australian Stock Exchange (ASX CODE: SGM) and its ADRs listed on the NYSE (NYSE SYMBOL: SMS).
