Profile: Sims Metal Management Ltd (SMSMY.PK)
5 Mar 2014
Sims Metal Management Limited, incorporated on June 20, 2005, is engaged in ferrous secondary recycling, non-ferrous secondary recycling, recycling solutions, and secondary processing and other services. The Company’s ferrous secondary recycling product group consists of the collection, processing and trading of iron and steel secondary raw material. Its non-ferrous secondary recycling product group consists of the collection, processing and trading of other metal alloys and residues, principally aluminum, lead, copper, zinc and nickel bearing materials. The Company recycling solutions product group consists of the provision of environmentally responsible solutions for the disposal of post-consumer electronic products, including information technology (IT) assets recycled for commercial customers. Its secondary processing and other services product group consists of processes involving the melting, refining and ingoting of certain non-ferrous metals and other service revenue. On November 30, 2012, the Company sold its Arizona scrap metal recycling assets to SA Recycling LLC (SAR). In December 2012, the Company, through its Sims Recycling Solutions (SRS) division, had acquired the assets of Genesis Recycling Ltd. In June 2013, the Company announced that Perpetual Limited and subsidiaries ceased to be substantial shareholder of the Company. In July 2013, Sims Metal Management Ltd announced the sale of its interest in Metal Management Aerospace, Inc (Aerospace), to ELG Utica Alloys.
In September 2012, the Company acquired the assets of E-Structors Inc. On January 17, 2012, the Company acquired 16% interest of Chiho-Tiande Group Limited (CTG) a metals and electronics recycler with operations in the People’s Republic of China and Hong Kong. In September 2011, the Company acquired S3 Interactive Limited. In October 2011, the Company's, New England subsidiary, acquired the assets, including the deep sea export facility, of Promet Marine Services Corporation Limited. During the fiscal year ended June 30, 2012, the Company incorporated or acquired Electronic Product Stewardship Australasia Pty Limited, Sims Metal Management Dragon Holdings Limited, Gaukara Company No. 2 Limited, Brook Street Metal Co. Limited, Deane Wood Export Limited, Sims FE Mottram Limited and SMM Southeast LLC.
Other than LMS Energy Pty Ltd (LMS), the principal activity of the Company’s other associates or jointly controlled entities is metal recycling. LMS is a landfill gas and renewable energy company, which researches, installs and develops landfill gas extraction systems, renewable energy and power generation technologies. The geographic areas of operations include North America, which consists of the United States of America and Canada; Australasia, which consists of Australia, New Zealand, Papua New Guinea, India, Singapore, Hong Kong, Dubai and South Africa, and Europe, which consists of the United Kingdom, Sweden, Belgium, the Netherlands, Germany, Poland, the Czech Republic, Hungary, Austria and Croatia.
Sims Metal Management Ltd
10th Floor, 16 West 22nd Street
NEW YORK NY 10010