Press Release
For Immediate Distribution
October 6, 2008
Sims Recycling Solutions Inc., the e-scrap division of Sims Metal Management announces the acquisition of Tampa, Florida based Global Investment Recovery Inc, a leading US asset recovery and e-scrap recycler.
Sims Recycling Solutions (SRS) significantly expands its American electronics recycling and Asset Recovery business in the end-of-life ICT sector through the acquisition of Global Investment Recovery Inc (GIR). Already a world leader in the recycling of electronic equipment, this acquisition further establishes its North American business as the Region’s leading player.
GIR (www.girpm.com), was founded in 1992 and has grown to be one of North America’s leading service providers offering the recycling of end-of-life electronics including Reverse Logistics, Recycling of excess inventories and obsolete parts. GIR also offers Asset management services including testing, repair and reuse, secure on-site shredding and separation and destruction of hard drive data to military specifications. It offers its clients customized reporting and certification and operates to recognised international environmental standards.
Today GIR is a true multi-state service provider, with operating facilities in Florida, South Carolina, Nevada, Louisiana and Arizona. In volume terms, GIR will increase SRS’ market presence in the USA by approximately 40% and offers considerable expansion in both geographic footprint and client base for the enlarged business.
Graham Davy, Global CEO for Sims Recycling Solutions commented: “This is a further transformational strategic development in the key US market place and we are delighted to announce this acquisition. We are excited with the further opportunities that will be possible with the experienced GIR management team and make our business an even more effective solutions provider for the American and global market place.
David Ritter, founder of GIR, and its Managing Director Reggie Chesson will be retained by SRS and shall report into Steve Skurnac, President of SRS North America. Steve Skurnac commented that: “Industry leaders must be able to provide a full suite of services across all of North America and the acquisition of GIR substantially strengthens our ability to provide the most comprehensive services through the widest geographic reach of any e-recycling company.”
Notes to Editors:
Sims Metal Management (www.simsmm.com) is the world’s largest listed metal recycler with over 230 operations globally. Sims MM’s core businesses are metal recycling and recycling solutions. SimsMM earns around 80 per cent of its revenue from international operations in the United Kingdom, Continental Europe, North America, New Zealand and Asia. SimsMM has over 6,000 employees, an annualised turnover of over $10 billion and has its ordinary shares listed on the Australian Stock Exchange (ASX CODE: SGM) and its ADRs listed on the NYSE (NYSE SYMBOL: SMS).
SimsMM operates the World’s leading electronics recycling company and last year processed over 250,000 tonnes of electronic waste through its Sims Recycling Solutions division, including the recycling of plastics and precious metals refining.
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