Sims mulls e-cycling closures amid revamp

Jun 24, 2014 | 02:51 PM | Sean Davidson

Tags  scrap, Sims Metal Management, SRS, Sims Recycling Solutions, electronics recycling, e-cycling, restructuring, Sean Davidson

NEW YORK — Sims Metal Management Ltd. could shutter its electronics recycling operations in Canada and a majority of its footprint in the United Kingdom, the company said June 24.

The New York-based company estimated that the restructuring could cost between Australian $80 million and A$85 million ($75 million and $80 million).

The restructuring initiatives are "designed to reset and streamline the Sims Recycling Solutions (SRS) business" as part of a strategic review being undertaken across the group, Sims said, noting that its review determined that certain loss-making assets were outside the strategic long-term interests of the company. ....

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