Sims outlines five-year growth strategy

Jul 23, 2014 | 05:58 PM | Sean Davidson

Tags  scrap, Sims Metal Management, Galdino Claro, growth strategy, Sims Recycling Solutions, Sean Davidson

NEW YORK — Sims Metal Management Ltd. will strive for additional underlying growth of Australian $238 million ($223.4 million) over the next five years, with roughly 75 percent of that expected to stem from a business optimization plan that includes realigning its North American operations into three regions.

The New York-based company is looking to raise earnings before interest and taxes (Ebit) by 350 percent over the underlying A$67.9 million in Ebit recorded during its 2013 fiscal year, it said in a five-year strategic plan released July 23.

Sims also will focus on generating around A$32 million ($30 million) in savings from streamlining operations, about A$180 million ($168.9 million) through optimization and roughly A$26 million ($24 million) from organic and acquisitive growth over the next five years, it said.....

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