Steel Products
Sims To Acquire Baltimore Scrap Corp.
Written by Laura Miller
August 16, 2023
Sims Metal is expanding its extensive network of scrap recycling facilities in the US with the addition of Baltimore Scrap Corp. (BSC).
The Australian metal recycling company agreed to acquire BSC for $177 million. The deal is expected to close in October.
The acquisition includes 17 BSC facilities in Maryland, Virginia, Pennsylvania, New York, and New Jersey. The company operates four shredders and has rail, barge, and port infrastructure, Sims said in a press release. Its annual sales volume is approximately 600,000 metric tons.
“This acquisition is a highly complementary fit with our strategy to expand the metal recycling business in North America and increase our diversity of sales channels to growing US domestic demand for ferrous and non-ferrous scrap metal,” said Sims’ CEO and managing director Alistair Field.
Field is set to retire at the end of September. Current CFO Stephen Mikkelsen will take over the roles of CEO and managing director as of Oct. 1.
In addition to its many US locations, Sims operates five scrap facilities in Canada and a large number throughout Australia, New Zealand, Papua New Guinea, and the UK.
Laura Miller
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