Sims Metal Management acquires US recycler

Archiv – Metals recycler Sims Metal Management has acquired US recycler Fairless Iron & Metal of Pennsylvania which operates two main facilities, including a mega-shredder, non-ferrous recovery systems and a deep-water export facility. The new acquisition processes approximately 60 000 tonnes of scrap per month which is sourced principally from New Jersey, New York and Eastern Pennsylvania, as well as from inland USA via rail.Australia / United States | Metals recycler Sims Metal Management has acquired US recycler Fairless Iron & Metal of Pennsylvania which operates two main facilities, including a mega-shredder, non-ferrous recovery systems and a deep-water export facility. The new acquisition processes approximately 60 000 tonnes of scrap per month which is sourced principally from New Jersey, New York and Eastern Pennsylvania, as well as from inland USA via rail.
The financial terms of the transaction have not been disclosed but Sims says the purchase price is not material to the company, adding that the transaction will be immediately accretive to the earnings of Sims Metal Management.
In welcoming Fairless Iron & Metal’s ’talented employees to the Sims Metal Management family’, CEO Daniel W. Dienst commented: ’We look forward to their many contributions to our business for the years to come as we collectively focus on shareholder returns and an unwavering commitment to safety, the environment and the communities in which we operate.’