Sims Metal Management’s corporate strategy includes leading industry consolidation through acquisitions.
Over a number of years, with experience gained from numerous international acquisitions, Sims Metal Management has established strict acquisition criteria, which require that any acquisition target holds the number one or number two market position, delivers access to domestic and international customers, offers a sound platform for future growth and, above all else, will likely enhance shareholder value. The acquisition criteria have underpinned Sims Metal Management’s strong track record of international expansion.
In October 2005, Sims Group Limited merged with the recycling businesses of Hugo Neu Corporation, a privately owned U.S. corporation. The merger created a new ASX listed company named Sims Group Limited, which is traded under the ASX code “SGM.”
Since the Hugo Neu merger, the company has continued to grow its metals recycling operations with a number of bolt-on acquisitions in Australia, North America and the United Kingdom.
In 2002, Sims Recycling Solutions was launched with the construction of an end-of-life refrigerator recycling plant in the United Kingdom. Since then, the business has expanded with the acquisitions in Europe, North America, India and Australia.
In 2008, Sims Group Limited and New York Stock Exchange-listed Metal Management, Inc. merged to create the world’s–as well as North America’s and Australasia’s–largest metals and electronics recycler. The company was renamed Sims Metal Management Limited at the company’s annual general meeting in 2008.
Today, Sims Metal Management, the world’s largest publicly traded metal and electronics recycler, has over 250 facilities on five continents, including more than 50 subsidiaries as well as interests in several joint ventures.