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Sims Metal Management Announces Acquisition of Fairless
Friday July 3, 2009, 9:06 am

Original Announcement: Acquisition of Fairless

Sims Metal Management announced the acquisition of the assets of Fairless Iron & Metal, LLC in Morrisville, Pennsylvania, US. Fairless, a full-service ferrous and non-ferrous recycler, operates two principal facilities including a state-of-the-art mega-shredder, non-ferrous recovery systems and a deep water port export facility. Fairless processes approx. 60,000t of scrap metal per month sourced principally from New Jersey, New York, Eastern Pennsylvania and the inland US via rail. The financial terms of the transaction were not disclosed, however, the purchase price consideration is not material to the Company. The transaction will be immediately accretive to the earnings of Sims Metal. The Company also reported on cautionary statements regarding forward-looking information.

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