Sims plan to invest $10 million in California scrap facility

PERTH (Scrap Monster): Sims Metal Management (ASX: SGM, NYSE: SMS), an Australia based global metal recycling company, said that it proposes to expand the North American operations and upgrade its Redwood City plant's export, processing capacity and improve efficiency. Sims is looking to invest upward of $10 million to make the Redwood City facility a full service shredding, processing, and export plant.

The new investment would be in addition to the $10 million Sims has already spent to improve the facility's operational efficiencies and reduce its environmental footprint over the past two years. The investment would also include infrastructure investments, improvements to existing equipment, and addition of new types of scrap processing equipment.

In a statement, Sims also said that it would help support the proposed dredging plan to deepen the Port of Redwood City channel that will allow access to larger vessels. Also, Sims would assist in the installation or improvement of other port infrastructure.