Sims Metal Management Expands into European Recycling
The company purchased Device and egoTrade to further its electronics recycling.
Sims Metal Management Limited, with offices in Chicago and Sydney, has expanded its European operations in the electronics recycling market by acquiring two computer and information technology asset recovery companies, Dutch-based Device and German company ergoTrade.
The multi-site acquisitions are a further milestone in SimsMM’s commitment to extend the success of its information and communication technologies asset recovery and lifecycle management business. Device has operations in the Netherlands, Poland, and the Czech Republic while ergoTrade has operations in Germany and Hungary.
Recycling Division CEO Graham Davy commented, “With these acquisitions, SimsMM will become the market leader in Germany for ICT asset recovery. Our unique setup of sites across Continental Europe will enable us to strengthen our service offerings to clients with multi-national responsibilities. The two businesses, Device and ergoTrade, bring expertise within their local and neighboring markets and a number of synergies, which lead the field in providing solutions to the European WEEE Directive’s challenge of ‘reduce, re-use, recycle.’”
The financial terms of the transaction were not disclosed, however, the company's press release stated that the purchase price consideration is not material to SimsMM.
Source: SimsMM