Sims sells aerospace unit, two scrap facilities

Jun 28, 2013 | 05:26 PM | Sean Davidson

Tags  Sims, Sims Aerospace, ELG Haniel, MetalX, Jefferson Iron & Metal, Jim Nathan, Jeff Maynard, scrap Sean Davidson

NEW YORK — Sims Metal Management Ltd. is reportedly in deals to divest its aerospace division and two scrap facilities in the South and has reduced its workforce in the region, sources familiar with the situation confirmed.

Sources told AMM that Sims is selling Hartford, Conn.-based Sims Metal Management Aerospace Inc. to ELG Haniel GmbH, Duisburg, Germany.

In addition, sources said Sims is selling a scrap facility in Birmingham, Ala., and one in West Point, Miss., to a newly formed company called Steel City Recyclers. AMM had reported previously that Waterloo, Ind.-based MetalX LLC and Birmingham, Ala.-based Jefferson Iron & Metal Brokerage Inc. were rumored to be involved in the acquisition of both Sims facilities (amm.com, April 8). ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results