Sims Metal Management Ltd. ADR (SMS) is domiciled in Australia, however approximately 88% of its revenue is derived from operations outside Australia, including approximately 67% from the North America segment. The company is the result of a 2008 merger of Sims and Metal Management. Becoming the world's largest listed metal recycler with approximately 270 facilities and 6,600 employees globally
The business consists of metal recycling, SRS and other smaller businesses. The metal recycling business collects and processes ferrous and non-ferrous metals.
Currently Sims can be bought at $7.46 per share. That's at ~75% of book value and only a few times projected mid cycle earnings. In addition the company pays a small dividend of 1.80%.
This is a perfect company...
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