Dive Brief:

• Sims Metal Management announced a restructuring plan for the segment of the company that handles e-waste recycling, Sims Recycling Solutions. 
• The move was prompted by legislation and markets in Canada and the U.K. The company will streamline its electronics division in order to cut loose loss-producing assets. According to the company, the restructuring of the business will not affect operations in other countries. 
• Sims Metal Management is repositioning capital and resources to other areas of its business. 

Dive Insight:

This is part of ongoing market adjustments during a period of growth in the e-waste industry. According to data released by Transparency Market Research, the worldwide e-waste industry will be worth $41.36 billion by 2019, with Europe leading the pack as the largest recycler of electronics. Sims Metal Management was cited as having a hold on a majority of the market shares. In April, a report released by the Consumer Electronics Association announced e-waste recycling broke previous record collection rates. 

Meanwhile, other companies such as EWSI are expanding e-waste capabilities, although the high costs of doing business has left some e-waste recyclers closing up shop.