Sims Metal Management ininto Sell European Recycling Business ininto TSR RecyclingSteel news #On_Nov

Sims Metal Management ininto Sell European Recycling Business ininto TSR RecyclingSteel news #On_Nov

November 27, 2019 0 By NewsTakers

Image Source: baumpub.com
Sims Metal Management announced that it has reached an agreement with TSR Recycling to sell its European recycling business.
The sale of European compliance scheme oriented recycling operations to is valued at EUR 83.5 million and is subject to regulatory approval by the European Commission authorities.The transaction would include operations across Germany, Austria, the Netherlands, Belgium and Sweden.
However, it would not cover assets pertaining to SMM’s global e-waste recycling and IT asset disposition businesses in the region.The sale decision is part of capital management strategy.
The sale proceeds will further strengthen the company’s balance sheet.
Posted By : Rabi Wangkhem on Wed, 27 Nov 2019

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