Sims Metals Management to install 7 new waste-to-energy conversion plants

Company News

by Jessica Amir

Metal and electronics recycling company, Sims Metal Management (ASX:SGM) held an investor day in New York highlighting its plan to install and operate seven plants in 10 years that covert waste-to-energy.

The plan is to reduce waste disposal and energy costs over the long-term, and to be the leading landfill energy company in Australia, helping to create ‘a world without waste’.

The business also highlighted another new business goal, to buy or build a minimum of 50 megawatts of sites within the next six years, growing its 250 facilities across the world.

At its investor day it also reiterated its plan to secure additional large city municipal recycling contracts by 2025.

Shares in Sims Metal Management (ASX:SGM) are trading 1.27 per cent lower at $10.86. Year-on-year its shares are 25 per cent lower.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.