Waste360 is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Sims Metal Sells Arizona Scrap Recycling Operations

Article-Sims Metal Sells Arizona Scrap Recycling Operations

Sims Metal Management Ltd. has sold two scrap metal recycling facilities in Arizona to SA Recycling LLC (SAR) for $35 million.

Orange, Calif.-based SAR, which is a joint venture of Sims Metal and Adams Steel, also retains through Sims Metal the working capital assets of the Arizona businesses, in Phoenix and Tuscon. That represents $15 million and brings the total expected cash generation of the sale to $50 million, Sims said in a news release. 

Sims Metal Management is based in Sydney, Australia, and is the parent of Chicago-based Sims Recycling Solutions. SAR has operations in California, Nevada and Arizona.

Sims Metal expects to report a $12 million (Australian) loss in its first half of fiscal 2013 related to the sale.

“This is an exciting growth opportunity for SAR and fits perfectly into our southwestern U.S. footprint,” said George Adams, SAR CEO.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.