Sims, Adams Steel Deal Receives Approval

Sims Group Ltd. was notified of the early termination of the waiting period requirements of the U.S. Hart-Scott-Rodino Antitrust Improvements Act, which will enable the merger of its Southern Californian Metal Recycling assets with those of Adams Steel LLC, to proceed.

When complete, the joint venture company, SA Recycling LLC, will operate within a territory encompassing Southern California, Arizona, Southern Nevada and Northern Mexico and combine Sims’ deep water facility at the Port of Los Angeles with Adams Steel’s two inland shredding operations and extensive network of inland feeder yards.

Jeremy Sutcliffe, Sims Group’s CEO, said "We are very pleased that this transaction can now proceed as scheduled. SA Recycling LLC will act as a springboard for further growth within this important region for the company."