SYDNEY, Australia and NEW YORK, May 14, 2013 (GLOBE NEWSWIRE) -- Sims Metal Management Limited (the "Company") (NYSE:SMS) and (ASX:SGM) announces today that in connection with the UK inventory investigation and the recently announced management changes in its UK Metals and UK Sims Recycling Services ("SRS") businesses, and the restructuring strategies being implemented, there will be significant items recorded against its Fiscal 2013 results. The significant items that have been identified arise in connection with decisions to redefine the scope and inventory flows of the Company's UK processing facilities and, as described below, include further inventory write-downs, provisions for landfill costs and recognition of other impairment charges.
Sims Metal Management Announces Market Update: Impact Of UK Restructuring On Fiscal 2013 Results
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