Scrap metal recycling company Sims has acquired a large parcel of land in the Brisbane port precinct for $93 million in the first step of a bigger plan to set up a metal recycling and processing plant on the site.
The acquisition is in line with chief executive Alistair Field’s strategy of ensuring metals operations are located close to deepwater ports so that metal products can be shipped around the world to satisfy rising customer demand for recycled metals.
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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
