Sims Completes Sale of Electronics Recycling Facilities in Europe

SEATTLE (Scrap Monster):  Australia-headquartered Sims Group announced that it has completed sale of multiple electronics recycling facilities in Europe to a German recycling firm. The European assets of Sims that specialize in electronic scrap recycling were sold to TSR Recycling- a subsidiary of Germany-headquartered Remondis Group.

The acquisition of operations spread across Germany, Austria, Belgium, the Netherlands and Sweden was for a sum of approximately $90 million.

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The sale transaction includes subsidiaries Sims M+R GmbH, Sims Recycling Solutions Austrian Holdings GmbH, Mirec B.V. and Sims Recycling Solutions AB. The sale is further to the company’s strategy to offload non-core assets in order to focus on its traditional core businesses of ferrous and non-ferrous scrap metal recycling. Sims had earlier determined that the above assets were non-core activities. Meantime, the sale does not include assets that are part of the Sims Lifecycle Services business.

States Alistair Field, CEO and managing director of Sims Group stated that the company will continue its leadership role  in the re-use, redeployment and recycling of cloud infrastructure. Sims Lifecycle Services has the full financial and operating backing of the wider Sims group, he added.