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.
Services for Global Businesses and Data Centers
Sims Lifecycle Services (SLS) provides leading solutions for the growing worldwide demands of data centers, businesses and manufacturers as they seek resourceful repurposing of pre-owned IT assets and retired electronics. Our services include:
- Data center decommissioning
- On-site data destruction
- IT asset disposition (ITAD)
- IT and cloud infrastructure reuse, redeployment and recycling
- Global electronics recycling
As a business of Sims Limited, our services for end-of-life electronic equipment and IT assets are data secure and environmentally compliant, meeting local and global legislative requirements. Our facilities are certified to industry standards. Our size, financial stability and status as a publicly traded company provide assurance that indemnification promises are backed by a stable and reputable company.
SLS 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.
Recycling for Electronic Producers
We work with electronic Original Equipment Manufacturers (OEMs) and Contract Equipment Manufacturers (CEMs) for product and prototype destruction services, take back programs, reverse logistics, parts harvesting and recycling manufacturing scrap. SLS develops take back programs to help OEMs meet extended producer responsibilities.
Precious Metals Refining
SLS reclaims and refines 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.
Driving Innovation in the Circular Economy
By diverting material from landfills, SLS plays a pivotal role in moving from a linear to a circular economy. In addition, our in-house engineering team continues to develop and implement closed loop recycling solutions. We produce clean recycled materials. This makes it easier to use our materials to replace virgin raw material in making next generation products.
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 2002, known today as Sims Lifecycle Services (SLS). Through organic expansion, investment and key acquisitions across the globe in countries, such as the UK, Netherlands, Germany, India, Dubai, Singapore, Poland, Czech Republic, South Africa, Australia and New Zealand means SLS has 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.