Metal recycler buys out rivals

Sims Metal Management (SimsMM) has snapped up two electronics recycling companies - Device, and ErgoTrade, reports The Vancouver Sun.

Device has operations in the Netherlands, Poland and the Czech Republic while ErgoTrade has operations in Germany and Hungary.

Graham Davy, CEO of SimsMM's global recycling solutions division, says the acquisitions will expand the company's European footprint in IT asset recovery and lifecycle management.

According to CRN, Davy says: “The two businesses bring expertise within their local and neighbouring markets and a number of synergies, which lead the field in providing solutions to the European WEEE Directive's challenge of 'reduce, reuse, recycle'.”

MSN Finance states that SimMMs did not disclose the purchase price of the acquisitions but says the purchase price consideration was not material to the company.