New facility will be used as a feeder yard for Metalico’s auto shredder in Buffalo, N.Y.
Metalico Inc., headquartered in Cranford, N.J., has agreed to acquire the assets of Furlow's North East Auto Inc., an automotive salvage and parts provider in North East, Pa.
The transaction includes Furlow's junk car and parts inventory and real estate, located in northwestern Pennsylvania. The site will be operated by Metalico's Goodman Services Inc. subsidiary, which is based in Bradford, Pa.
Tim Furlow, president of Furlow’s North East, will stay with the company.
Metalico says it plans to grow the facility's salvage car buying capabilities and continue its pick-and-pull auto parts business while taking advantage of additional access to scrap metal to feed its shredder in Buffalo, N.Y. Metalico says it also is aggressively looking at other properties in the auto salvage industry in western New York and northwestern Pennsylvania to support its shredder.