Australia-based scrap metal giant Sims Group Ltd has no intention of slowing its strategy of growth through acquisition in the electronics sector and has compiled a short-list of potential targets. However, Sims’ CEO Jeremy Sutcliffe says the company will ‘bed down’ recently-acquired electronics recycling businesses in the USA before continuing with its acquisition strategy.
Sims has become the world’s largest electronics recycler following its acquisition of two businesses in North America: one is United Recycling Industries (URI) of Chicago, Illinois, but the name of the second business has yet to be disclosed. ‘We’ve got these to bed down - we’re very conscious of the fact that we don’t want to run before we can walk,’ he states.
Mr Sutcliffe says the acquisition of the North American businesses puts the company in a strong position to benefit from any pro-recycling changes in legislation. He adds: ‘I’ve previously commented there is already a banning on the landfilling of cathode ray tubes and TVs and computer monitors in California. If that roll-out is across the USA, we have got a real firm platform now to exploit that new opportunity as it progressively arises.’
