PITTSBURGH Upstate Shredding LLC-Ben Weitsman & Son Inc. has entered a deal to buy its second feeder yard this month.
The Owego, N.Y.-based scrap metal processor is purchasing Valley Recycling LLC, Allegany, N.Y., for an undisclosed price. The all-cash deal, confirmed by Valley Recycling vice president Tim Nolan, is scheduled to close in 30 days.
After the Valley Recycling deal closes, the 28-year-old western New York facility will be renamed Ben Weitsman of Allegany. Nolan will remain in charge of the operation, which encompasses two yards in Allegany totaling 12 acres that specialize in nonferrous material but also buy ferrous scrap.
Nolan said he had other offers but wanted to align the scrapyard with Upstate Shredding. "We felt a great synergy and rapport with their management style and methods of doing business," he said. "We have been profitable and it makes sense to get the backing of a strong player who will do whatever it takes to get every pound out there."
"This facility has historically had lower sales volumes and higher margins. We are going to change that," Upstate Shredding president Adam Weitsman said. "We are going to raise prices paid out to customers, fully renovate the facility, add staff and operate seven days a week to make this yard the very best it can be for both our customers and the community."
Upstate Shredding earlier this month said it would buy Ithaca, N.Y.-based Reamer Recycling Services Inc. (amm.com, July 2).