Key Developments: Sims Metal Management Ltd (SMS)
9.54USD
24 May 2013
$-0.08 (-0.83%)
$9.62
$9.55
$9.57
$9.48
50,422
67,757
$12.04
$8.27
Latest Key Developments (Source: Significant Developments)
Sims Metal Management Ltd Announces Retirement Of Chief Executive Officer
Sims Metal Management Ltd announced Mr. Daniel W. Dienst, the Company's Chief Executive Officer, will retire effective June 30, 2013 upon the expiration of his contract. Full Article
Sims Metal Management Ltd Not To Pay H1 2013 Dividend
Sims Metal Management Ltd announced that no dividend was declared for the first half of fiscal 2013 (H1 2012: AUD 0.10 per share). Full Article
Sims Metal Management Ltd Updates H1 2013 EBITDA Guidance
Sims Metal Management Ltd provided guidance for first half of 2013 underlying earnings before interest, tax, depreciation, and amortization (EBITDA) in the range of $110 million to $120 million. Due to continued challenging market conditions, SimsMM now expects first half of 2013 underlying EBITDA to be approximately 20% lower than the previous guidance range. Full Article
Sims Metal Management Ltd's Sims Recycling Solutions Division Announces Acquisition Of Assets Of Recycler Genesis Recycling Ltd.
Sims Metal Management Ltd announced that the Company through its Sims Recycling Solutions (SRS) division, has acquired the assets of Genesis Recycling Ltd. (Genesis), expanding its North America SRS electronics recycling business. Genesis is located in Langley, British Columbia, outside of Vancouver. The financial terms of the transaction were not disclosed, however, the purchase price consideration is not material to the Company. Full Article
Sims Metal Management Ltd Announces The Sale Of Its Scrap Metal Recycling Assets In Arizona, USA
Sims Metal Management Ltd announced the sale, effective November 30, 2012, of its Arizona scrap metal recycling assets to SA Recycling LLC (SAR). SAR is a joint venture owned equally by SimsMM and Adams Steel, and has operations in California, Nevada and Arizona. The sale was settled at a price of USD 35 million in cash. The sale principally involves the real property related assets for two scrap metal recycling facilities located in Phoenix and Tucson, Arizona. SimsMM will retain the working capital assets of the Arizona business which is anticipated to monetize a further circa USD15 million in cash over 45 days following the sale. This brings the total expected cash generation from the Arizona sale to USD 50 million. The transaction will be accounted for in the first half Fiscal 2013 results with an expected pre-tax loss of AUD 12 million. The loss on sale relates to the value of intangible assets not realised in the sale. Full Article
Sims Metal Management Ltd Acquires E-Structors Inc
Sims Metal Management Ltd announced that through its electronics recycling division Sims Recycling Solutions (SRS), the Company has expanded its North American operations by acquiring the assets of Elkridge, Maryland based, E-Structors Inc, a company engaged in electronics recycling. Full Article
Sims Metal Management Ltd Announces Final Dividend
Sims Metal Management Ltd announced that it has determined that a final dividend of $0.10 per share (unfranked) will be paid on October 19, 2012, to shareholders on the Company's register at the record date of October 5, 2012. The total dividends for all of fiscal 2012 represent a payout ratio of circa 56% of net profit before non-cash goodwill impairment charges. The Company's Dividend Reinvestment Plan remains suspended Full Article
Sims Metal Management Ltd Issues FY 2012 Revenue Guidance In Line With Analysts' Estimates
Sims Metal Management Ltd announced that for fiscal 2012, it expects revenue to be circa $9 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues $9.027 billion for fiscal 2012. Full Article
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