NEW YORK Freedom Metals Inc. has announced plans to open a new scrapyard on the south side of Louisville, Ky.
The new facility will primarily serve as a feeder yard to Freedoms larger processing centers in Louisville. It will feature two scales and a small office building that will house about 20 full-time employees.
"It took us about a year and a half to get zoning for the property, and we spent about $700,000 to acquire the land," company president Spencer Blue told AMM. "When we first started zoning, there wasnt nearly the volatility in the market that there is today. We are going to proceed very cautiously in terms of opening the property. We probably wont look to open the facility for another 24 months."
The company plans to invest about $2 million to make the yard fully operational, he added.
The Louisville-based company operates four scrap recycling facilities in Kentucky. Freedom Metals also owns Le Grange, Ky.-based Blue Alloys LLC, which specializes in stainless steel and special alloy recycling.