Metalico Inc. has agreed to purchase the assets of a North
East, Pa.-based auto salvage business to serve as another
source to feed its Buffalo, N.Y., auto shredder.
N.J.-based metals recycler is buying Furlows North East
Auto Inc., including its inventory and real estate.
The terms of the
agreement were not disclosed.
The new location will
be operated by Metalicos Goodman Services Inc.
subsidiary, based in Bradford, Pa. Tim Furlow, the selling
party, will remain at the location and work for Metalico.
Metalico has a long-range plan to widen its ability to buy
salvage cars that can be utilized for used auto part resales,
as well as to feed its shredders.