This tax strategy applies to all of the UK based companies (“Sims UK”) of Sims Metal Management Limited, an Australian based company that is listed on the Australian Securities Exchange. In compliance with Part 2 of schedule 19, Finance Act of 2016, Sims UK is publishing its tax strategy for the fiscal year ending 30 June 2020.
Sims Metal Management is the world’s leading publicly listed metal recycler, with operations encompassing the buying, processing and selling of ferrous and non-ferrous recycled metals. The metals recycling operations are geographically diverse, with operations in five continents, including the United States, Australasia and the United Kingdom, comprising a network of processing facilities, many with deep-water port access, supported by an extensive network of feeder yards from which to source recyclable ferrous and non-ferrous metals.
Sims Metal Management buys ferrous metal from metal dealers, peddlers, auto wreckers, demolition firms and others who generate obsolete metal, and from manufacturers who generate industrial metal.
We source non-ferrous metals from manufacturers, known as production offcuts, and from generators of electricity, telecommunication service providers, as well as others, who generate obsolete metal. Peddlers and metal dealers, who collect from a variety of sources, also deliver material directly to our facilities. Sims Metal Management provides customized recycling services to meet the individual needs of commercial and industrial scrap metal producers. Our goal is to ensure that each client receives the same high level of customer service and efficiency. Sims Metal Management’s services are customized to maximize each scrap provider’s net scrap revenues. Our services include:
- Fair-market scrap metal prices
- State and federally certified scales
- Accountability and control procedures, including:
Numbered and dated receipts
Certified scale tickets
Checks that reference both the receipt and scale tickets
- Weighing programs—no cost weighing procedures
- Simple techniques to upgrade the value of your material
- Over 100 years of experience in the metal recycling industry
Sims Metal Management is an Australian domiciled corporation, with a primary share listing on the Australian Securities Exchange and ADRs trading in the United States on the OTC Market.
Our Sims Recycling Solutions (SRS) division provides global electronics recycling and IT asset disposal (ITAD) services, with established operations in the United Kingdom, Continental Europe and North America and the Asia-Pacific region and Africa.
Sims Recycling Solutions (SRS) is Sims Metal Management’s e-waste recycler and IT asset disposition (ITAD) service provider. Sims Recycling Solutions offer an integrated electronics recycling and ITAD solution for local, regional and global clients through our expansive network of global facilities and MIDAS certified subcontractor network.
Sims Recycling Solutions offers a comprehensive and cost-effective service for “end of life” and redundant electronic equipment and IT assets, ranging from product assessment, refurbishment, reselling of assets to responsible recycling.
IT Asset Disposition (ITAD) Services
SRS offers ITAD services that operates across a global network. Services include the management and control of the entire asset disposition process, including transport, coordination, product identification, asset tracking, data destruction and reporting. SRS offers its clients the option of redeployment, reclamation of parts and/or resale and recycling, delivering legal compliance as well as a potential financial return from the resale of refurbished equipment.
As part of Sims Metal Management Limited, SRS has access to a sizeable pool of investment capital and is continually investing in leading industry solutions. We have developed The Sims Portal, as part of specialized inventory software to securely track and report on client assets. Our in-house engineering team has developed and implemented advanced recycling technology, enabling us to output clean commodity streams for use in next generation products.
We work with Original Equipment Manufacturers (OEMs) and Contract Equipment Manufacturers (CEMs) for prototype destruction services, take back programs, reverse logistics, parts harvesting and manufacturing scrap recycling. SRS provides disposition services for all types of retired electronic equipment in every business sector enabling them to comply with their responsibilities under relevant environmental regulations, including the European Union’s WEEE legislation.
Precious Metal Refining
We reclaim and refine precious metals from waste streams, typically as a byproduct of complex manufacturing processes. We also recover precious metals from production scrap, off-spec parts and components, prototypes, and obsolete inventories.
Sims UK Tax Strategy
Sims Metal Management – 100 Year History
Over one-hundred years ago in 1917, in the growing city of Sydney, Australia, Albert G. Sims started a small recycling business. Through determination and hard work, the process of collecting material by bicycle soon graduated to horse and cart, which then gave way to motor vehicles and mechanized equipment. By the late 1930’s the company known as Albert G. Sims Limited had metals recycling operations across Australia.
By 1948 Albert G. Sims had listed on the Australian Stock Exchange, fresh with capital and eyes on greater aspirations beyond the shores of Australia.
The seeds of Sims’ current global leading trading operations were planted as early as the 1950’s. In 1956, the Company chartered the MV “Swan Hill”, exporting the first cargo of steel scrap to Japan. By the end of the 1960’s, Sims’ overseas ferrous scrap markets had expanded to include Thailand, Korea, Singapore, Malaysia, Indonesia, China, Taiwan, the Philippines and Bangladesh.
By the late 1980’s, Sims entered the US with the acquisition of LMC Corporation based in San Francisco, and has not looked back since. Expansion in North America which followed included the Richmond Steel Recycling Joint Venture in 1996, the merger with Hugo Neu in 2005, the formation of the Sims Adams Recycling Joint Venture in 2007, and the merger with Metal Management in 2008.
In the United Kingdom, the Company established itself in 1995 with the formation of Sims Bird Limited, which was followed by the acquisition of McIntyre Metals in 1996, Philips Services in 2000, and Dunn Brothers in 2011.
Yet the full international scope of the business was realized with the creation of Sims Recycling Solutions in 2004. Through numerous key acquisitions and investments spanning countries as diverse as the UK, the Netherlands, Belgium, Sweden, Germany, the US, India, Austria, Dubai, and South Africa meant SRS achieved true global scale.
Today Sims Metal Management is the world’s leading listed metals and electronics recycler, as well as an emerging player in the Municipal Recycling and Renewable Energy industry.