Sims Metal Management Limited (SimsMM) (ASX: SGM) (NYSE: SMS), through its Sims Recycling Solutions (SRS) division, has acquired the assets of Genesis Recycling Ltd. (Genesis), expanding its North America SRS electronics recycling business. Genesis is located in Langley, British Columbia, outside of Vancouver.
Founded in 1994, Genesis provides recycling solutions to business, government and industrial customers in British Columbia for electronics and small appliances. Genesis, which holds current ISO 9001, ISO 14001, OHSAS 18001 and Responsible Recycling (R2) Practices certifications, has demonstrated expertise in all aspects of recycling, safety, logistics, customer service, and the handling of environmentally sensitive materials within a proven framework for continued growth.
“We are excited to have the Genesis team join the SRS family,” stated Steve Skurnac, President, SRS, Americas. “With our strong presence in Ontario and Eastern Canada, this acquisition was an attractive opportunity for SimsMM to enter Western Canada and further strengthen its North America SRS electronics recycling business.”
The financial terms of the transaction were not disclosed, however, the purchase price consideration is not material to SimsMM.
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Management’s financial condition, results of operations, earnings outlook and prospects.
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