PITTSBURGH Upstate Shredding LLC-Ben Weitsman & Son Inc. is acquiring Capitol Bag & Waste Co. Inc.s recycling facility in Albany, N.Y.
The deal, the terms of which were not disclosed, is expected to close within two weeks.
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.
Owego, N.Y.-based 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.
Segel told 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, NY.