Sims Metal Management Limited
(ASX:SGM) is selling its stake in a former subsidiary of its North American metals business at a loss.
The company says it will offload its interest in recycler Metal Management Aerospace to ELG Utica Alloys.
Sims Metal Management expects to incur a loss of $9 million before tax from the transaction.
The terms of the deal have not been released.
Sims Metal booked a loss of $295.5 million the first half of fiscal 2013.
