Welcome to our dedicated page for Sims news (Ticker: SMSMY), a resource for investors and traders seeking the latest updates and insights on Sims stock.
Sims Limited (SMSMY) generates news across metal recycling, technology circularity, municipal recycling, renewable energy and corporate sustainability. As the U.S.-traded ADR of an Australian-listed company that describes itself as a global leader in metal recycling and an enabler of the circular economy, Sims Limited frequently announces developments related to its divisions, partnerships and sustainability initiatives.
News items often highlight activities at Sims Metal, which buys and processes discarded ferrous and non‑ferrous metal and supplies recycled material to manufacturers, as well as Sims Lifecycle Services (SLS), which focuses on extending the life of data center and enterprise IT assets and managing end‑of‑life electronics. SLS has featured in coverage as a Representative Vendor in Gartner’s Market Guide for IT Asset Disposition and in announcements about collaborations to automate repurposing of data center materials.
Investors and observers can also find updates on Sims Limited’s sustainability and climate commitments. The company has reported inclusion in sustainability indices such as FTSE4Good and the Corporate Knights Global 100, has received the Terra Carta Seal, and has signed the Action Declaration on Climate Policy Engagement. These items provide insight into how Sims aligns its business with climate policy and circular economy objectives.
Corporate governance and leadership changes, such as board appointments, director retirements and executive hires, are another recurring theme in Sims Limited news. In addition, the company publishes releases on strategic agreements, such as a non‑binding Memorandum of Understanding with Alter Steel to support a proposed electric arc furnace steel mill in Queensland using ferrous scrap supplied and managed by Sims. For readers following SMSMY, this news feed offers an ongoing view into the company’s operational initiatives, sustainability milestones and corporate developments.
Sims Limited (OTC:SMSMY) and Alter Steel have signed a non-binding Memorandum of Understanding (MOU) to establish a strategic partnership for Alter's planned electric arc furnace (EAF) in Pinkenba, Queensland. Under the proposed agreement, Sims would exclusively supply up to 550,000 tonnes of ferrous scrap annually and manage Alter's scrap inventory.
Alter Steel is investing over $750 million to construct a new steel mill capable of producing 500,000 tonnes of reinforcing steel yearly. The facility, scheduled to begin operations in 2028, will create over 600 construction jobs and 220 permanent positions. The project includes developing Sims' Pinkenba site into a strategic logistics and metal recycling hub, transitioning from road-based transport to shipping and potential rail operations.
Sims Lifecycle Services (SLS) has been named a Representative Vendor in the 2024 Gartner® Market Guide for IT Asset Disposition for the fifth time. The recognition emphasizes SLS's expertise in IT asset management, data security, and sustainability solutions. The Market Guide highlights that IT Asset Disposition (ITAD) is increasingly focused on environmental sustainability benefits, including extending technology asset lifecycles to reduce greenhouse gas emissions and e-waste. The report emphasizes that device reuse and refurbishment are expected to grow as organizations recognize the carbon avoidance benefits compared to recycling.
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Sims Limited (ASX: SGM) has been recognized as the 14th most sustainable company globally in the 2023 Global 100 List by Corporate Knights, marking its ninth inclusion. The company emphasized its commitment to sustainability by accelerating its carbon neutrality target by 12 years. Notable achievements include a 21% reduction in carbon emissions from FY20 and the establishment of a Sims Resource Renewal demonstration site. The ranking reflects a rigorous assessment of 6,720 companies with revenues exceeding $1 billion, evaluating key environmental, social, and governance indicators.
Sims Limited (ASX: SGM) announced the retirement of Heather Ridout AO from its Board of Directors in 2023. Ridout, who joined the board in September 2011 and served as chairperson of the Remuneration Committee, played a pivotal role in guiding the company through a challenging growth strategy. Geoffrey Brunsdon, the Board's chairman, praised her contributions over 11 years. Ridout is transitioning to serve as Australia's Consul-General in New York, with her retirement date yet to be determined. Sims Limited is committed to sustainability and operates globally, with a purpose of creating a world without waste.
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