NEW YORK Sadoff
Iron & Metal Co. believes "the growth opportunities are
substantial" for its newly opened, 13-acre recycling facility
in Lincoln, Neb., chief executive officer Mark Lasky told
Fond du Lac,
Wis.-based Sadoff opened the new facility Oct. 14. The company
had said last year that it would replace its previous 2.5-acre
Lincoln operation (
amm.com, June 29, 2012).
The new site is part
of a push by Sadoff to expand its footprint in the state,
having purchased Omaha nonferrous recycler Midwest Metals
Recycling late last year (
amm.com, Sept. 18, 2012).
looking at this expansion (in Lincoln) two to three years ago,"
Lasky said, describing the new facility as state of the art. It
will handle both ferrous and nonferrous material.
"We were using
ancient, vertical downstroke balers before," he commented on
the previous operation. "Now, were able to process in two
hours what used to take us a day and a morning."
Sadoff entered the
Nebraska market in 1999, where it operates two facilities. It
also operates another seven facilities in its home state of
"We look for
situations where there are good opportunities to make margins,
make good business, be able to reinvest in our operations and
become self-sustaining," Lasky said. "I think theres room
for more competition out there (in Nebraska)."
Sadoff partnered with
the Lincoln Airport Authority to finance and build the new
operation, which is located on a repurposed brownfield site
previously used by the U.S. Air Force as a fuel storage area.
The authority issued industrial revenue bonds to cover the
projects $4.5-million cost, which Sadoff will repay
through a long-term lease agreement.
The bond agreement is
for 30 years, "with multiple options that can take it to 40 or
50 (years)," Lasky said.