Company Announcements
February 9, 2026
Sims acquires assets of Tri Coastal Trading
Written by Stephen Miller
Sims Ltd. said on Monday it has acquired the assets of Tri Coastal Trading (TCT), Houston, for $66.5 million in cash.
Australia-headquartered Sims also announced an impending agreement to sell its Mayo Shell property in Houston at a price that will substantially fund the TCT purchase, the company said in a statement.
TCT ships over 350,000 metric tons (mt) per year of processed ferrous scrap to both international and domestic markets. TCT operates a scrap-loading facility with a deep-sea dock at the Port of Houston in the Galena Park industrial area.
It has a long-term service agreement with Enstructure LLC to source, process, and ship ferrous scrap via truck, rail, barge and deep-sea vessel to all markets. This agreement will provide Sims with this ability and was a key consideration in the acquisition if TCT.
Sims operates a full-service scrap processing facility in Houston but does not have a deep-sea dock to directly load ocean-going vessels. The acquisition of TCT gives Sims this important feature and bolsters Sims’ position as the largest scrap exporter in the US.
In addition to Houston, Sims operates numerous export terminals on the East and West coasts of the US. Sims employs a workforce of ~3,900 and operates more than 150 facilities across 13 countries globally.
“We have been looking for a solution for our Houston business for some time,” commented Sims CEO and Managing Director Stephen Mikkelsen. “While we have made significant progress in turning our Houston business around over the last two years, its ultimate potential was always hampered by the lack of a deep-sea dock. TCT is an ideal solution to this problem.”
