Australian-based company extends its business in tire recycling.
Sims Group announced the acquisition, Devote Pty Ltd., Australia’s largest tire recycler. The company goes by the name of TyreCycle and Encore Rubber.
The company operates facilities in Queensland, New South Wales and Victoria.
The Encore Rubber tire granulation plant, located in Melbourne, converts used tire into rubber crumb for use in a wide range of applications.
Jeremy Sutcliffe, Sims’ chief executive, noted, “The acquisition is consistent with Sims Group’s stated objective of providing solutions to the increasing waste problems associated with a range of end-of-life products discarded by society. Combining the resources and national coverage of Sims Group’s recycling operations with those of TyreCycle and Encore provides a strong base from which to address the 17million plus waste tires generated in Australia every year.”
The new venture will report under Sims Group’s Recycling Solutions division, complementing initiatives in tire and electronics recycling established in the United Kingdom and United States.