Further Changes in the Metals Market.

Signs of investor interest in the metals recovery sector are seen with the recent acquisition of Sims Metals by Unimetals.

Sims has announced that it has entered into a binding agreement to sell its UK Metal business (UKM) to Unimetals Group for £195 million.

Completion is still subject to standard conditions, including obtaining regulatory approvals, and is expected to be finalized before the end of Q1 in 2025.

The deal covers 28 facilities, including three port facilities and four shredders. Unimetals will take on responsibility for the employees currently working in the UKM business.

UKM sales accounted for approximately 14% of Sims Metal’s total sales volumes in 2024. Moving forward, the company’s metal portfolio will focus on Australia and New Zealand Metal, North America Metal (“NAM”), and its 50% stake in the SA Recycling Joint Venture.

Additionally, Sims has announced that it has signed a letter of intent to sell its remaining interest in CLP Circular Services Holdings for around US$32 million.

After a thorough strategic review of UKM, evaluating various options including a sale, joint venture, or business restructuring, the board determined that selling UKM was the best outcome for Sims and its shareholders.

By concentrating on high-potential markets such as the United States, Australia, and New Zealand, where the company has a stronger business position and higher demand for scrap, Sims can better leverage its strengths and drive sustainable growth.

This transaction with Unimetals and the potential sale of its interest in Circular Services concludes a divestment program that began in 2022.

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