Mitsui & Co. to Acquire 19.9% of Sims Group

Mitsui & Co. announced on Saturday the firm agreed with Hugo Neu Corporation of USA to purchase 19.9% of outstanding share of scrap dealer of Sims Group of Australia for around Australian $602 million. Mitsui & Co. sends 2 directors, of which one is non-executive director, after the purchase. Sims Group is wholesaler and processor of metal scrap. The firm with A$ 3.755 billion of sales for the year to June 2006 has A$ 1.938 billion of asses and more than 3,300 of employees. The firm has more than 120 of operation sites in Pacific coasts, Europe and USA.