PITTSBURGH Reamer Recycling Services Inc. has formally exited its relationship with Metalico Inc. and has now arranged to marry a direct competitor.
Ithaca, N.Y.-based Reamer Recycling is being sold to Upstate Shredding LLC-Ben Weitsman & Son Inc., company president Bill Reamer told AMM. "I think it is difficult for a small independent these days and is getting tougher and tougher. You either grow or shrink, so it is important to partner with people you are comfortable with."
Reamer purchased the yard, which has been around for more than 70 years, from his former employer 15 years ago. The seven-acre facility, which has rail service, sorts material and shears.
Upstate Shredding confirmed that a deal has been reached. "It is a great geographical location with a strong industrial base. The obsolete material generated will feed our Owego (N.Y.) shredder," Adam Weitsman, president, said.
The deal is expected to close within the next 30 days, after which Upstate Shredding management will work alongside Reamer and the 15 employees at the Ithaca yard.
Reamer Recycling and Cranford, N.J.-based Metalico dissolved their joint venture April 1. A lawsuit filed on the accounting aspect of the breakup was recently resolved, Reamer said (amm.com, April 2).