SIMS METAL MANAGEMENT LTD (ADR) Sydney, Australia and New York, 8 January 2015 (ASX:SGM) -- Sims Metal Management Limited (the "Company") today announced that Tobin Pospisil has joined the Company as President of Sims Metal Management North American Metals - Central Region, covering the Midwestern, Southern and Southwestern United States.
The move now completes the restructuring of the Company's North American Metals business into three separate regions reporting to Group CEO Galdino Claro. Mr Pospisil joins Joe Payesko, President of the East Region and Steve Shinn, President of the West Region as part of the North America Metals leadership team.
Prior to joining the Company, Mr Pospisil served as President of the Gallatin Steel Company, a flat products mini-mill joint venture between ArcelorMittal and Gerdau. He joined Gallatin as General Manager in October 2003 and was named President in March 2009. Prior to this, Mr Pospisil progressed through various management roles with GS Industries, a global specialty steel manufacturer, from November 1990 through October 2003.
"Tobin is an experienced steel executive with deep connections with steel mills, particularly in the central United States," said Mr Claro. "As we highlighted in our five-year strategic plan, enhancing our connectivity with domestic steel mills is a key objective, and critical to the success of our Central Region. Tobin's established relationships, leadership, and analytical skills are a perfect fit for Sims Metal Management as we build on our strategic goals for the Central Region."
Cautionary Statements Regarding Forward-Looking Information
This release may contain forward-looking statements, including statements about Sims Metal Management's financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions.
These forward-looking statements involve certain risks and uncertainties. Our ability to predict results or the actual effects of our plans and strategies is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from these forward-looking statements include those discussed and identified in filings we make with the Australian Securities Exchange and the United States Securities and Exchange Commission ("SEC"), including the risk factors described in the Company's Annual Report on Form 20-F, which we filed with the SEC on 16 October 2013.
Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release.
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About Sims Metal Management
Sims Metal Management is the world's largest listed metal recycler with over 250 facilities and 6,000 employees globally. Sims' core businesses are metal recycling and electronics recycling. Sims Metal Management generates approximately 60% of its revenue from operations in North America. The Company's ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and its ADRs are listed in the United States on the Over-the-Counter market (OTC:SMSMY). Please visit our website (www.simsmm.com) for more information on the Company and recent developments.
Investor and media inquiries contact
Todd Scott
Group Vice President - Investor Relations
Tel: +61 4 0960 0352
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sims Metal Management Limited via Globenewswire
