Sims acquires Rhode Island export facility
Sims Metal Management Limited, a metal and
electronic recycling company, has acquired the assets, including
the deep sea export facility, of Promet Marine Services Corporation
Limited located in Providence, Rhode Island. The deep sea facility
is located in the Eastern United States on the Providence River
and comprises more than 9 acres of land, a rail serviced 600’
pier and 2 deep water berths.
As part of a broader strategic initiative,
this acquisition will serve as the company’s main export terminal
for the New England region. The company will continue to look
at opportunities to build out this region with additional acquisitions
and greenfield developments.
Sims intends to retain all Promet employees.
Additional personnel will be added regionally.
The financial terms of the transaction were
not disclosed, however, the purchase price consideration is not
material to the company.