Upstate Shredding – Weitsman Recycling, headquartered in Owego, New York, has acquired Eastside Metals & Recycling Corp., Fort Ann, New York, in an all-cash transaction. The deal, which the company says it expects to close within the next two months, will bring the number of locations Upstate Shredding – Weitsman Recycing owns to 17.
“Washington County and the Northeast region of New York is an area I have been exploring and interested in for quite some time," says Adam Weitsman, owner of Upstate Shredding – Weitsman Recycling. "While we had several scrap companies in the region that approached us for acquisition, we feel that Eastside has the best synergy and is the best location for our strategic plans for the rest of this year as well as 2015."
He continues, “Eastside has had a very hard time competing in this tough scrap economy, and we look forward to bringing the financial strength needed to contend in this market. This is our third acquisition within this region of the state in the past year, and we plan on opening two more in the area. With close proximity to Saratoga Springs and our current Albany (New York) retail scrap yard and port facility, we feel this location will be a perfect fit for our current and future expansion endeavors."
Eastside Metals & Recycling Corp. was founded in 2003 as a recycled auto parts vendor. Since then the company has expanded its operations to include providing full service scrap metal recycling.
Following the acquisition, Upstate says it plans to update Eastside’s facility, which will include landscaping, new fencing, renovation of existing facilities and new equipment. Eastside also will be renamed Ben Weitsman of Kingsbury.
“Since 2003, we have proudly served Fort Ann and the surrounding communities," says Anthony Marro, owner of Eastside Metals & Recycling Corp. "Through this acquisition, we will have the ability to pay customers higher prices for their scrap, give them longer, more convenient hours and serve them with brand new equipment. We look forward to the positive impact that the Weitsman brand and reputation will bring not only to our customers but to the entire area who will benefit from a company that is community conscious and genuinely concerned with being a good neighbor."