The world’s largest metal recycler, Sims Metal Management Limited, has announced the closing its entire Canadian e-waste division under Sims Recycling Solutions, and most of its UK division, all as part of a massive restructuring designed to save the company some $115 million in writeoffs.
A June 24, 2014 announcement from Sims blames “legislation and market dynamics” in the UK and Canada for damaging the recycler’s economic prospects. Throughout 2013, Ontario’s proposed Waste Reduction Act attempted to right the ship amongst the province’s industry-funded organizations, such as the Ontario Electronics Stewardship, which oversees companies like Sims.
Sims had been a major electronics recycler in Ontario, where the company will shed some 250 jobs.
Sims officials state that they will focus more intently on the company’s other divisions, but the full details of the company’s operations and strategy review won’t be announced until July 23, 2014.
Sims has approximately 265 facilities and 6,100 employees globally.
Sims Recycling Solutions’ website lists Canadian locations in Langley, British Columbia; Mississauga, Ontario; and Laval, Quebec