Upstate Shredding – Ben Weitsman, headquartered in Owego, N.Y., has confirmed that it has acquired the assets of Reamer Recycling, previously known as Wallace Industries, a scrap metal company headquartered in Ithaca, N.Y.
“Reamer Recycling is the Finger Lakes’ largest scrap yard, and we are thrilled to have them as a part of our network,” says Adam Weitsman, president of Upstate Shredding and Ben Weitsman.
“We will be fully paving the facility, redoing the buildings and bringing in brand new equipment,” he says of the Reamer Recycling property. “We will also be landscaping the property and installing brand new fencing as we make this location much more aesthetically appealing for the neighbors and the community. All work done will bring this facility up to the highest level of environmental compliance possible.” Weitsman continues, “We want to bring this location back to its prominence as a scrap recycling leader, a recognition it once so proudly held in the area.”
Upstate Shredding says the all-cash transaction is expected to close by the end of September.
Bill Reamer, who owned Reamer Recycling for 12 years, will remain with the company to help expedite Upstate’s management during a transition period.
The scrap metal facility was operated formerly by Wallace Industries until it was sold in 2002 to Reamer.
“We are excited to be joining such a prestigious leader in the scrap industry and look forward to all the positive changes and impact joining the Weitsman network will have for this location, its customers and the community,” Reamer says.
The new Ithaca facility will be Upstate’s second in Ithaca. The company currently owns a new steel distribution center in the city.
“We have long been a part of the Ithaca community through our new steel center,” Weitsman says. “However, a scrap metal recycling facility for us here fits perfectly within our expansion plan as we continue to aggressively grow throughout the Northeast.”
In addition to its two Ithaca facilities, Upstate Shredding - Ben Weitsman has scrap yards in the New York cities of Albany, Jamestown, Allegany, Rochester, Syracuse, Owego (two locations) and Binghamton as well as in New Castle and Scranton, Pa.
In related news, Upstate Shredding says it has received approval to install a second shredder at its New Castle yard. The company says it also has received approval to build a new scrap metal recycling facility in Liberty, N.Y.