Sims Group announces more deals.Sims Group, the largest metal recycling firm in the world, has announced several deals that it hopes will continue to grow its metals business. In the first deal, Sims has announced the acquisition of Cymru Metals Recycling, South Wales South Wales south n → sud m du Pays de Galles , U.K., a ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which and nonferrous metals recycling facility. The acquired company handles more than 150,000 metric tons of metal per year. The acquisition follows Sims' goal of expanding its metals recycling business in fast growing areas. Sims says the purchase will complement its scrap recycling network in the United Kingdom. Cymru Metals operates several facilities, some of which have direct export capabilities. Additionally, Cymru is an authorized treatment facility for end-of-life vehicles, handling around 50,000 vehicles a year. "The acquisition of Cymru Metals Recycling expands Sims' presence into West Wales West Wales is the western area of Wales bordered by South Wales to the east. The area is loosely-defined, but is generally considered to include Pembrokeshire, Carmarthenshire, southern areas of Ceredigion, and sometimes the city of Swansea, . and strengthens our position as a leading U.K. metal recycler," Tom Bird, managing director of Sims Group U.K. Metal Recycling Division, says. "Cymru Metals Recycling will make a significant contribution to the ongoing development of our U.K. business." Sims also has announced plans to acquire Menzies Metals, in the Melbourne area. Darron McGree, managing director of Sims Group Australia & New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. says the acquisition "significantly strengthens Sims Group's catchment catch·ment n. 1. A catching or collecting of water, especially rainwater. 2. a. A structure, such as a basin or reservoir, used for collecting or draining water. b. in the area and allows us to offer a greater range of services to our regional customer base." Finally, the company has completed the acquisition of Maroochy Steel, a steel distribution business servicing the coastal area of Queensland, Australia. In addition, Sims Group Australia is building a metals recycling facility in Maroochydore. The site has all approvals in place and expects to be operational during the second half of fiscal 2007, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the company. |
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