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July 16, 2013

Sims Metal Management sells Hartford facility

Submitted photo Sims Metal Management announced the sale of its Hartford aerospace facility, pictured here.

Sims Metal Management, the world's largest metals and electronics recycler, announced it has sold its interest in its Hartford aerospace facility to ELG Utica Alloys.

Sims said the West Service Road facility "was determined to be non-core due to the unique aspects of its processing capabilities and associated commodities."

The company lists aerospace part destruction and the purchasing and processing of aerospace-grade titanium among the facility's capabilities.

Sims did not disclose the terms of the deal with the New York-based ELG Utica, but said they are not considered material to its finances. Sims will incur a $9 million pre-tax loss in relation to the transaction.

It continues to own processing plants in New Haven, North Haven and Stamford and has 270 facilities around the world.

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