Sims Limited announced the completion of a strategic review resulting in the decision to sell the Sims Metal, UK business and enter into a binding agreement with Unimetals Group Limited (Unimetals). See announcement - https://lnkd.in/d6T3y-cr
📣 Sims Limited has announced the completion of a strategic review resulting in the decision to sell the Sims Metal, UK business and enter into a binding agreement with Unimetals Group Limited (Unimetals). Commenting on the transaction, Sims Limited, CEO and Managing Director, Stephen Mikkelsen said “We conducted a comprehensive strategic review of Sims Metal, UK, evaluating all options, including a sale, forming a joint venture, or restructuring the business. The Board concluded that a sale provided the optimal outcome for Sims and its shareholders”. Unimetals Co-Founders Jamie Afnaim and Alec Sellem said “We are delighted to have agreed to the acquisition and are looking forward to integrating Sims Metal, UK into the Unimetals’ family. This acquisition is a testament to our conviction in UK industry and our commitment to securing critical and other strategic raw materials from recycled sources.” We want to express our gratitude to our UK colleagues, many of whom have been with Sims Metal for decades. 👉 Please view the ASX release for further details: https://lnkd.in/gvmGJj7b #SimsLimited #SimsMetal #StrategicReview #BusinessUpdate #CorporateAnnouncement #MetalRecycling #Unimetals #SustainablePartnerships #EfficientLogistics #CircularEconomy #CriticalMinerals