Trade Sims Metal Management
Sims Metal Co., Ltd. is the world's leading metal and electronics recycling company. The company specializes in recycling ferrous and non-ferrous metals, recycling electronic goods after consumption, and recycling municipal waste. Founded in 1917, its main operations are located in the United States (where it is now based), Australia (where the company was founded and remains listed), and the United Kingdom. Sims Mineralmanagement was founded in 1917 by Albert Sims, metal metal metal trader in Sydney, Australia. The company was founded as Albert G. Sims Ltd. in 1928, and simsmetal Ltd. was renamed in November 1968. In November 1970, Sims merged with Standard Metal Products Ltd. and ASX Integrated, a listed company named Sims Consolidated Ltd. In May 1979, Sims United Limited acquired Pico-Bond and was then delisted. In February 1988, Sims entered the U.S. scrap recycling market through the acquisition of LMC, California. In August 1988, Sims Consolidated Ltd. was included in the purchase of Pico-Wallend by North Limited. In 1989, North Limited sold the company to Elders Resources NZFP Limited, a diversified resource company. In 1990, Carter Holt Harvey made a successful acquisition bid for Elders Resources NZFP Limited and inventoried the company's non-forest companies, which included Sims. Sims changed its name to Simsmetal Ltd in 1990 and re-listed it in the ASX in November 1991.In August 1992, and Sims expanded its presence in New Zealand By merging its business there with iron recycling operations owned by Pacific Steel Industries, Fletcher Construction. This joint venture, known as Sims Pacific Metals Co., Ltd., operating throughout New Zealand.In February 1995, has acquired 51% of the ownership at Sims Bird Ltd in the UK, which was the first major entry into the UK scrap metal market. The company acquired the remaining 49% of Sims Bird Limited in May 1998. In April 2000, Sims acquired Philip Services (Europe) Ltd. in the UK, significantly increasing its presence in that market. In November 2002, Semsmittal Limited changed its name to Sims Group Ltd. In October 2005, the company merged with entities working on some recycling companies of Hugo Neu Corporation, a privately owned company in the United States. The merger provided Simms with a significant presence in Southern California, New York and New Jersey.In September 2007, and Simms sold its Southern California business to a joint venture with Adams Steel. The joint venture, SA Recycling, is operated by Adams Steel, one of the largest recycling companies in the United States operating over 70 facilities in seven states. On March 14, 2008, Sims issued 53.5 million U.S. deposit receipts (ADRs), with a face value of $1.5 billion, to purchase capital issued by metal management company (MMI) in the United States. MMI was one of the leading companies in recycling whole scrap metal in the United States , with locations in 17 U.S. states. The acquisition is designed to enhance Sims' position in the North American scrap recycling market, increase the chance of being a supplier of raw materials to U.S. steel mills, and expand its presence in non-ferrous products. The acquisition was complementary, as Sims' North American operations were primarily focused on export, while MMI operations were primarily local, involving a large non-ferrous recycling company. The acquisition of MMI in March 2008 led to the creation of the world's leading publicly traded recycling company. In November 2008, shareholders agreed to change the company's name to Sims Metal Manlimited.