Sims Limited to Acquire Assets of Alumisource Corp.

The acquisition will help to boost the company’s North American metal division’s nonferrous retail sales volumes to approximately 33,000 metric tons.

SEATTLE (Scrap Monster): Leading metal and electronics recycler Sims Limited announced acquisition of commercial and operating assets of Alumisource Corp. - a Pennsylavania, U.S.-based leading aluminum processor.

The news release published by the company says that Sims Limited has agreed to make an upfront payment of $22.5 million against the purchase. Also, it will make additional payments over the next three to five years, the amounts of which will be calculated using a predetermined earnout formula.

ALSO READ:

Sims Metal Reaches Settlement on Clear Air Violations at Johnston Site

Fall in Scrap Market and Covid-19 Take a Hit on Sims Results

The acquisition will help to boost the company’s North American metal division’s nonferrous retail sales volumes to approximately 33,000 metric tons. This is significantly higher when compared with the nonferrous retail volume of 140,000 metric tons during entire fiscal year 2020.

Alistair Field, CEO and managing director, Sims Ltd. noted that the milestone acquisition will help the company towards delivering its strategic targets and growing nonferrous retail volumes in the North American region. Alumisource’s culture around safety and sustainability fits well with that of the company. Sims has longstanding relationship with Alumisource, he said.

Gabe Hudock, CEO, Alumisource will continue to manage the acquired company for a period of up to five years.

• How Basic Mechanical Recycling can Capture Value from Mixed Plastic Waste
• Smurfit Westrock’s Paper Pallet Wrap Set to Drive Down Supply Chain Emissions
• January 9, 2025: Scrap Gold and Platinum Prices Moved Up, Silver Down on the Index
• Rebel Fuels Launches to Transform Waste CO2 Into Carbon-Neutral Fuels