Additional Disclosure of North America Metals Financial Reporting Segment: Sims Metal Management Ltd.’s (ASX: SGM) stock fell 0.44% on July 17, 2018 after the company enhanced its financial disclosure that will provide greater financial transparency of the equity accounted results for SA Recycling LLC (SAR). Currently, SAR operates 73 facilities across North America, specifically California, Texas, Arizona, Nevada, Georgia, Alabama and Tennessee. SAR’s core business is ferrous and non-ferrous metal recycling, servicing US domestic and international customers. The 50% investment made in SAR, is held through one of the Company’s subsidiaries, which are disaggregated from the historical North America Metals operating segment for market disclosure. The two new segments will be referred to as North America Metals and Investment in SA Recycling. The operating segments disclosure changes will be applied in the fiscal year ending 30 June 2018 and thereafter. Meanwhile, SGM stock has risen 5.58% in three months as on July 16, 2018 and is trading at a P/E of 14.70x.[pluginops_form template_id='23834' ]
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