United States – Sims Metal Management (SMM) has confirmed the sale of metals recycling assets in the central region of North America to Steel Dynamics, Inc. (SDI). Principally, the deal covers selected recycling facilities in Memphis, Tennessee, and throughout Mississippi, involving some 90 employees.
The sale represents ‘a significant step in our initiatives to divest non-core assets and reallocate capital to our key markets’, comments SMM’s group ceo Galdino Claro.
‘The divestment, in line with our strategy, will allow management to focus on our core operations. We are confident that service will continue to be delivered with the best outcomes for our employees, suppliers and customers for years to come.’
According to Russell Rinn, SDI’s executive vice president of metals recycling, these assets are ‘well positioned to support our Columbus flat roll division as we work towards greater raw material self-sufficiency in the region’.
SDI is one of the largest steel producers and metals recyclers in the USA, with around 100 recycling locations and six steel fabrication plants. Meanwhile, SMM is the world’s largest publicly-traded metal and electronics recycler, operating approximately 270 facilities on five continents.