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 (SMSMY) has sold 8.2 acres of land in Newark, New Jersey, for $31.5 million. The company will receive 85% of the proceeds by December 2022, with the remainder before June 30, 2023. This sale is part of Sims' strategy to divest unproductive or non-core assets and reinvest the proceeds into core growth opportunities. Previous asset sales, like the 50.5% stake in Sims Municipal Recycling, demonstrate this approach. The firm aims for a minimum internal rate of return of 15% on these investments.
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Sims Limited (ASX: SGM) and LMS Energy have signed the Action Declaration on Climate Policy Engagement at COP27, reinforcing their commitment to climate action. This initiative aims to align corporate climate strategies with the Paris Agreement, with over 50 companies participating, representing nearly US$900 billion in annual revenue. Sims Limited aims for carbon neutrality by 2030 and has reduced greenhouse gas emissions by 21% since FY20. The company emphasizes transparency in climate advocacy as part of its sustainability strategy.
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Sims Limited has announced the appointment of Philip Bainbridge as an independent non-executive director, effective September 1, 2022. His extensive experience in the oil and gas sector, including roles at Oil Search Limited and BP Group, is expected to enhance the Board's expertise, especially in regions where Sims operates. Shareholder confirmation is set for the 2022 annual general meeting on November 8, 2022. This appointment follows Victoria Binns' addition to the Board in October 2021, reflecting Sims' commitment to Board renewal.
Sims Metal has appointed Robert Thompson as its new Global Chief Commercial Officer, effective July 11, 2022. Thompson brings over 30 years of experience in the metal recycling and steel industries, previously serving at Gerdau Long Steel North America. His role will include global responsibility for material buying and sales, enhancing the company’s strategy towards sustainable growth. Sims Metal is part of Sims Limited, a leader in metal recycling, operating in multiple countries and recycling nearly 10 million tonnes of metal annually.
Sims Limited (ASX: SGM, USOTC: SMSMY) has been recognized on the inaugural Financial Times/Nikkei Asia Climate Leaders Asia-Pacific list for 2022, featuring 200 companies that have achieved significant greenhouse gas emissions reductions. Since 2015, Sims has cut nearly 80,000 tonnes of CO2e, equating to emissions from 34 million liters of diesel. The company aims to source 100% renewable electricity by 2025 and achieve carbon neutrality by 2030. Earlier this year, Sims was ranked 11th on Corporate Knight's Global 100 list of sustainable companies.
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