Australia's Sims hits near 4-year high on $66.5 million acquisition

Sims

10/02/2026 04:24

** Shares of Australia's Sims SGM.AX rise as much as 5.7% to A$21.8, their highest level since April 22, 2022

** Metal recycler says it has acquired assets of Tri Coastal Trading (TCT) for $66.5 million

** Co says it also divests its nearby Mayo Shell property in Houston for proceeds estimated in excess of $100 million to fund the acquisition

** Texas-based TCT ships processed obsolete scrap annually

** Stock up 18.1% YTD, including session's moves

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))