The Competition and Markets Authority (CMA) has cleared the buyout of a UK metal recycler by Sims Metal Management.
The company has taken over Morley Waste Traders Limited and its subsidiaries Lord & Midgley Limited and Kaystan Holdings Limited for an undisclosed sum.
Morley processes iron, steel and other scrap metals at 10 of its facilities across Yorkshire – it handles more than 150,000 tonnes of scrap metals and associated materials every year.
Sims Metal Management is said to be the world’s largest listed metal recycler, with more than 250 facilities globally, including 42 in the UK.
The company generates around 60% of its revenue from its operations in North America.