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Company News Summary

Sims Announces Acquisition of Alumisource Corporation

12 Feb 2021  |  09:37:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of Certain Assets of Alumisource Corporation

Sims announced that it has acquired certain commercial and operating assets of Alumisource Corporation (Alumisource). The purchase price is split into a guaranteed component of US$22.5m with further payments expected over the next three to five years using a pre-determined earnout formula. The net increase in Company's North American metal division's non-ferrous retail sales volumes is forecast to be 33,000t. The division's non-ferrous retail volumes were 140,000t in FY 2020.

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