Sims Metal Management Ltd., with headquarters in Sydney and New York City, has announced the acquisition of the Morley Waste Traders and Lord and Midgley (Morley) businesses, a United Kingdom-based metal recycler with 10 facilities across Yorkshire. With the purchase, Sims will now operate 50 metals recycling facilities across the United Kingdom.
The financial terms of the transaction were not disclosed; however, Sims says the purchase price consideration is not material to the company.
Alistair Field, Sims group CEO, says, “Morley’s operations in north England fit strategically with our own current footprint and will be a valuable addition to our Europe Metals business. The acquisition is consistent with our strategy of disciplined growth through complementary bolt-on acquisitions in our core markets.”
Paul Wright, managing director of Europe Metals for Sims, says, “Our acquisition of these businesses is an excellent example of how our U.K. growth strategy is taking shape. Morley’s large ferrous and nonferrous processing facilities will extend our footprint into new markets while offering local businesses competitive solutions to their metal recycling needs. We look forward to welcoming our new colleagues into the Sims UK team.”
Stan Whittaker, managing director of Morley, says, “We are very proud to have spent 58 years building successful metal recycling businesses across the North of England. As a global metal recycling leader, we think Sims Metal Management is the perfect company to take our staff and sites into the future.”
Sims Metal Management is one of the world’s largest metal and electronics recyclers, with more than 250 facilities in 18 countries and more than 4,800 employees.