SIMS Metal Management Limited
(ASX:SGM) has announced a five year strategic plan to lift earnings by up to 350 per cent.
New Group CEO, Galdino Claro has completed his review of global operations and said he expects no significant restructuring charges other than those previously announced.
In June, SIMS announced a $115 million of write downs as part of the restructure and said it would likely close its UK and Canadian recycling operations.
Mr Claro also said that there was plenty of scope to grow the business both in effectively leveraging the synergies of previous acquisitions and bringing the business back to basics.
After a two year loss making period SIMS Metal Management Limited
(ASX:SGM) managed to post a half yearly net profit of $9.3 million to 31 December 2013.
