Simsmetal, the Australian-based scrap metal company, is reportedly involved in discussions about acquiring a U.S. group.
According to press reports the company is negotiating with a large, privately owned scrap metal company on the U.S. West Coast near a deep-water port. Sources say the deal has been held up by the weakness of the Australian dollar and Simsmetal's reluctance to use shares.
According to a published report, the company is looking to improve its position in the United States, although it would not comment on the possible acquisition. ABIX