Metal recycling company Sims intends to sell its 50 per cent stake in renewable energy group LMS Energy, which operates 36 plants turning biogas into energy, and six solar plants.
Sims chief executive Alistair Field said the company decided after a strategic review of assets that it was better off putting more funds into its core business of metal recycling.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
