Upstate Shredding LLC-Ben Weitsman & Son Inc. is acquiring
Capitol Bag & Waste Co. Inc.s recycling facility in
The deal, the terms of
which were not disclosed, is expected to close within two
Capitol, which does
business as Capitol Scrap Metal Co., is a family owned business
that operates on a one-acre site in the Port of Albany,
according to president Burt Segel, whose father founded the
company in 1938. The company, which employs nine workers, has
more than 27,000 industrial and peddler customers, he said.
Upstate opened its Albany metals recycling and export shipping
facility last summer (
amm.com, Aug. 9). We were attracted to
this companys large buying base of nonferrous. We are
going to continue to acquire yards that fit in with our
plan, company president Adam Weitsman said.
Once the deal is
finalized, Weitsman plans to combine the two operations and
shift a lot of the buying to the new facility.
AMM that he plans to stay on at the facility during
the transition and then retire.
In separate news, Upstate said Jan. 15 that it has also
acquired the assets of Hornell Waste Material Co. in Hornell,