Sims Recycling Solutions announces major closings in Canada and the UK

MONTREAL (Scrap Monster): Sims Recycling Solutions (SRS)- the e-scrap division of Sims Metal Management has announced major closures of its facilities in Canada and the UK. A substantial portion of SRS facilities in the UK and all its facilities in Canada will be closed. The surprise announcement followed the company’s assessment that closure of certain loss making assets is necessary for safeguarding the long-term interests of the company.

According to SRS announcement, all the three Canadian sites of SRS will be closing. In addition, a substantial portion of UK business will also close down. It notes that the e-waste recycling in Canada is being controlled by the EPRA. The company faces huge difficulties in managing the inflow of materials and recycling rates. Moreover, the volumes and pricing are determined largely by EPRA. Under these circumstances, the company rules out fresh investments in the region.

In the UK, there are more recycling capacities than available materials. The competition for materials is very tough in the region. The company is looking out to more competitive ways of recycling available materials.

The company had recently closed its US facilities in Texas and New Jersey as part of their restructuring efforts.

Sims Metal Management is the world's largest listed metal recycler with approximately 265 facilities and 6,100 employees globally. Sims' core businesses are metal recycling and electronics recycling.