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Sims Metal Management closes first half of financial year with significant loss

Recycling group “deeply disappointed” by results in North America

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(WW) – The global scrap recycling group Sims Metal Management recorded rising tonnages and turnover in the first half of its 2011/12 financial year, but closed the period with a three-digit million loss. It is due to goodwill impairment charges totalling AUD614m, which arose primarily in the group’s North American ...

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