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Recycled metals giant sells stake in LMS

Sims selling 50 per cent of LMS.

Sims Limited is selling its 50 per cent shareholding in one of the largest emissions reducing companies in Australia.

Sims, a global leader in metal recycling, announced this week that it will be selling its shareholding in LMS Energy.

Alistair Field, Sims’ CEO, said the company is proud of the growth achieved since the acquisition of its stake in LMS in 2001.

“LMS has grown to be a leading bioenergy and methane abatement company in Australia and expanded into new markets,” he said.

The opportunity to sell followed a strategic review process, and follows Sims’ business strategy with regards to growing the core metal business.

“[LMS] has an experienced, dedicated management team, and I am confident in its continued growth,” said Field

LMS Chairman John Falzon said that the relationship between the two companies remains strong.

“I am extremely proud of what we have accomplished and excited about the opportunities that lie ahead with a new partner,” he said.

LMS owns and operates 36 biogas-to-energy facilities, 26 biogas flaring facilities and six solar projects.

It generates 600,000 megawatt hours of renewable energy and abates 4.6 million tonnes of carbon equivalent annually.

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