Sims Metal Management Ltd - a leading global metal recycling company, announces the acquisition of new assets in the UK. With this acquisition round, the company now has 50 ferrous and non-ferrous scrap metal recycling facilities across the UK.
According to the company's press release, northern British metal recyclers have decided to acquire Morley Waste Traders Limited and its subsidiaries, Lord and Midgley Limited. The Morley Group is known to have 10 plants across Yorkshire. Financial details of the transaction were not disclosed.
Alistair Field, CEO of the Sims group, stated that Morley's assets fit strategically into his current operations in the region. The acquisition is in line with the company's strategic plan for growth with significant gains in key markets, he said.
The acquisition will bring invaluable additions to the European Metals business. Meanwhile, Paul Wright, managing director of Europe Metals for Sims, said the company is looking forward to welcoming new colleagues from the acquired businesses to the Sims UK team.
The acquisition is expected to help the company improve its local market presence. In addition, Morley's expansion of non-ferrous processing plants will help expand the markets.
Morley executive director Stan Whittaker said Sims Metal Management is the perfect company to take their staff and sites into the future.
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