PITTSBURGH Metalico Inc. has stepped up its scrap metals recycling presence in the markets it serves via a new venture in northeastern Ohio and an acquisition in the Greater Rochester area.
The Cranford, N.J.-based metals recycler has taken over a Cleveland facility vacated by a shuttered company and has purchased an auto recycler in Bergen, N.Y.
"This is part of a continuing effort to increase density in the markets we currently operate in," Michael J. Drury, executive vice president of Metalico and chief operating officer of its platinum group metals and lead operations, told AMM. "We have a shredder in Buffalo (N.Y.) and Youngstown (Ohio) and have found an effective way to support a shredder is through your captive feeder yards."
The company opened a joint venture called Metalico JBI Cleveland on Dec. 17 in the industrial part of Cleveland. The yard is expected to develop a strong peddler scrap base, service new accounts and support existing yards in Akron and Youngstown.
Joseph Immormino is managing the Ohio yard, which will employ about eight workers, Drury said. The company is leasing the land and has acquired some of the existing equipment at the yard.
The facility had previously been operated by Lakeside Scrap Metals Inc., which closed its doors over the summer (amm.com, Aug. 1).
Meanwhile, wholly owned subsidiary Metalico Rochester Inc. has purchased the assets, property and inventory of Bergen Auto Recycling LLC. The company will expand its buying, as well as continue the auto parts business. Vehicles will be decommissioned and the bodies will be sent to the companys Buffalo shredder.
The company did not disclose the terms of either deal.