Create a World Without Waste, to Preserve Our Planet
This month, members of the executive leadership team hosted an investor strategy day in Sydney Australia. We unveiled our multi-year strategic growth plan and shared how our purpose, create a world without waste to preserve our planet, will help us achieve it.
We presented our goals for growing our metals, e-recycling/ITAD and municipal recycling business units.
Those goals include:
- Continue leading metal recycling by nearly doubling non-ferrous recycling in the United States and growing the US ferrous business by 40% in six years.
- Increase e-recycling services and become the leading e-recycler of data storage centers (also known as “the cloud”). Our objective is to recycle 10% of the cloud over the next six years and be the original equipment manufacturers’ supplier of choice for recycled plastic.
- Lead change in municipal recycling by implementing new systems for better solutions. Our goal is to secure additional large city recycling contracts within the next six years.
During our presentation, we acknowledged that there has been a great deal of change in our industry, and while our goals for growth are strong, it’s not enough. For us to continue the success we’ve seen over the past 100+ years, we have to evolve our business to fit the changing landscape. In line with our purpose and commitment to sustainability, we are introducing a new line of business under the Sims umbrella: renewable energy.
Expanding into the energy business will allow us to reduce waste and produce renewable energy, as well as provide even more opportunities for Sims’ growth. Our energy goals include:
- Expand into waste-to-energy by recycling the non-metallic residue from the shredding process (ASR) to generate electricity. We aim to build and operate seven plants within the next 10 years.
- Leverage the expertise and best practices from our joint venture partner LMS Energy, the leading landfill energy company in Australia, to expand that business model into other parts of the world. Our objective is to acquire or build 50 Megawatts of sites within the next six years.
Feel free to watch a replay of our presentation by clicking here.