The company on Monday unveiled its strategic growth plan and said it will look to increase scrap volumes to 6.5 million tons annually by 2025.

Michael Movsas, Sims’ president of North America Metals, said the company plans to reach that goal in part through development of greenfield feeder yards. In fact, he said the company already has a “significant” number of new yards already under development.  

He also said the company will look to expand through regional acquisition, for which there are growing opportunities as scrappers retire and, with no one to succeed them, exit the business. He also said gentrification is driving up land values and forcing other operators to exit.

“In essence, these will provide accretive bolt-ons strategic to, and synergistic with, our current footprint,” he said.