Sims Steamlining Recycling Operations in Canada, United Kingdom

Allan Gerlat, News Editor

July 7, 2014

1 Min Read
Sims Steamlining Recycling Operations in Canada, United Kingdom

Sims Metal Management Ltd. said it is streamlining its Sims Recycling Solutions (SRS) unit by shedding its Canadian operations and much of its United Kingdom business.

The Sydney-based company said it has determined “certain loss-making assets to be outside of the strategic long-term interests of the company,” according to a news release.

“Market dynamics in the U.K. and Canada have resulted in these businesses being commercially unattractive to the company going forward. The company will redirect its capital and resources instead to other portions of the global businesses that are more attractive as it continues to develop its platform for SRS customer relationships worldwide.”

Sims expects to incur restructuring charges of about $80 million to $85 million, of which the non-cash portion relates primarily to fixed asset impairment and is about $35 million. The restructuring charges will impact the company second-half results of 2014.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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