The reigning La Liga champions, Atletico saw last season's 36-goal top scorer Diego Costa depart for Chelsea earlier in the transfer window.
Simeone was quick to address that loss, bringing in Mario Mandzukic, Antoine Griezmann and Raul Jimenez as Atletico look to hold off what looks set to be a resurgent challenge from both Barcelona and Real Madrid.
Torres - prolific in his first spell at Vicente Calderon before leaving for Liverpool - has been linked with a move back to the club, but Simeone appeared to quash such suggestions.
"I think as a coach when you're not normally super powerful economically you have to adapt to situations," he told La Sexta.
"And in building a team the coach gives ideas of what he would like. I as a coach like characters of his type and the club looks for economic opportunities closer to the needs of the coach.
"I'm happy. There is no point imagining situations and I think with the signing of Jimenez we have completed the characters we need in the team.
"I think that having Antoine Griezmann, Raul Garcia, Mario Mandzukic and Jimenez means we have significant offensive power."
