Metalico parts ways with Reamco joint venture
Apr 02, 2013 | 03:53 PM
| Lisa Gordon
PITTSBURGH The marriage between Metalico Inc. and Reamer Recycling Services Inc. has ended, but it appears the 29-month union will have to be untied by the legal system.
Ithaca, N.Y.-based joint venture Reamer-Metalico Scrap Recycling, a full-service metal recycling facility that serviced local and industrial suppliers in Tompkins and Cortland counties, was officially dissolved April 1, according to a regulatory filing.
The original Nov. 10, 2010, agreement decreed that the company would be dissolved April 1, 2013, if neither party chose to buy out the other. Cranford, N.J.-based Metalico notified Reamer in February that it would not exercise its purchase option and said it owed Metalico nearly $1.17 million. ....
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