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) reports news tied to its global recycling and circular-economy businesses, including metal recycling, scrap supply and logistics, technology lifecycle services, and renewable-energy-related sustainability initiatives. Its Sims Lifecycle Services unit provides IT asset disposition, data center equipment reuse and redeployment, secure electronics disposition, and recycling of electronic products.
Company updates also cover customer and technology collaborations, recognition for IT asset disposition capabilities, climate policy engagement, ESG index inclusion, tax transparency and renewable electricity initiatives, and governance changes involving the board and finance leadership. As an ADR, SMSMY news may also reflect parent-company announcements and materials from Sims Limited's Australian-listed ordinary shares.
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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