Reamer Recycling Services Inc. has formally exited its
relationship with Metalico Inc. and has now arranged to marry a
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
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.
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).