Company also announces that it has received conditional use permit to install auto shredder.
Metalico Transfer, Inc., a wholly owned subsidiary of Metalico, Inc., has purchased the assets of Compass Environmental Haulers, Inc., a construction and demolition debris transfer station in Rochester, NY.
Metalico Transfer holds a permit authorizing it to receive up to five hundred tons per day of C&D for recycling and disposal. The facility is situated on around five acres, which is suitable to accommodate Metalico's plan to operate at permitted capacity.
The company also announced that it received a conditional use permit from the Town of Chili, NY, to construct and operate a metal shredder on the operating premises of its Metalico Rochester, Inc. subsidiary.
The company expects to produce as much as 20,000 tons per month of shredded steel and associated non-ferrous metals.
Metalico President Carlos Aguero said: "While the Compass acquisition is relatively small, it has opened our horizons to a business and industry that we know well and have experience in and has logistics synergies with our scrap metal operations. When completed, the shredder will allow us to tie together our entire scrap metal buying network in the Rochester, Buffalo and Syracuse geographic region representing a combined population of more than three million people."
The shredder project is expected to take up to one year to complete before operations commence, assuming no delays in the acquisition, installation, or final permitting processes.