Sims Metal
 |
|
| Public | |
| Traded as |
ASX: SGM OTCQB: |
| Industry | Metal recycling |
| Headquarters | New York |
|
Key people
|
Galdino Claro, CEO Geoffrey Brunsdon, Chairman |
| Products | Ferrous and Non-ferrous Secondary Metals |
| Revenue | $7.2 billion (FY13) |
| $297 million (FY13) | |
| Profit | $17 million (FY13) |
|
Number of employees
|
6,393 (FY13) |
| Website | www |
Galdino Claro, CEO
Sims Metal Management is the leading metals and electronics recycling company in the world. The company specializes in ferrous and non-ferrous metals recycling, post-consumer electronic goods recycling, and municipal waste recycling. Its primary operations are located in the United States, Australia, and the UK.
The firm was established in 1917 by Albert Sims, a recycled metals dealer in Sydney, Australia. The business was incorporated as Albert G. Sims Limited in 1928 and was renamed Simsmetal Limited in November 1968. In November 1970, Sims merged with Consolidated Metal Products Limited and the merged ASX, listed company was named Sims Consolidated Limited. In May 1979, Sims Consolidated Limited was acquired by Peko-Wallsend Limited and subsequently delisted.
In February 1988, Sims entered the US scrap recycling market through the acquisition of LMC Corporation, located in the state of California. In August 1988, Sims Consolidated Limited was acquired by North Limited (previously known as North Broken Hill Holdings Limited, and then North Broken Hill Peko Limited). In 1989, North Limited sold the business to Elders Resources NZFP Limited, a diversified resources company. In 1990, Carter Holt Harvey Limited made a successful takeover bid for Elders Resources NZFP Limited and divested that company’s non-forestry businesses, which included Sims. Sims changed its name to Simsmetal Limited in 1990 and relisted on the ASX in November 1991.
In August 1992, Sims expanded its presence in New Zealand through the merger of its business there with the ferrous recycling operations owned by Pacific Steel Industries, a Fletcher Building Limited company. This joint venture, known as Sims Pacific Metals Limited, operates throughout New Zealand.
In February 1995, Sims acquired a 51% ownership interest in Sims Bird Limited in the UK, which was its first major entry in the UK scrap metal market. The company acquired the remaining 49% of Sims Bird Limited in May 1998. In April 2000, Sims acquired Phillip Services (Europe) Limited in the UK, which significantly increased its presence in that market.
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Wikipedia