Company purchases Capitol Scrap, Albany, N.Y.
Upstate Shredding – Ben Weitsman, Owego, N.Y., has announced plans to acquire Capitol Scrap, a scrap recycling company in Albany, N.Y. The companies say they expect the deal to be completed by the end of January 2014.
Capitol Scrap Metal is a family owned and operated scrap company that has been in business since 1938.
Upstate says the decision to acquire Capitol Scrap is part of its plan to strengthen its network of feeder yards to supply its shredders. Upstate Shredding has been making acquisitions to help provide feedstock for the auto shredder planned at its Port of Albany, N.Y., location. In December 2013 Upstate announced plans to invest $25 million to build and install an auto shredder at its Port of Albany facility.
Along with plans to acquire Capitol, Upstate says it has completed the acquisition of Hornell Waste Materials, Hornell, N.Y. That facility also is expected to help supply material to Upstate’s auto shredder at the Port of Albany. With that purchase, Upstate now has a total of 15 locations.
“With our new export facility at the Port of Albany in full operation and second and third shredders going into Albany and New Castle, Pa., we are eager to find new markets for scrap metal,” says Adam Weitsman, owner of Upstate Shredding – Ben Weitsman.
Upstate says that after acquiring scrap yards it upgrades and updates the facilities to bring them up to what the company calls modern operating standards. Upgrades include new processing equipment, building renovations, the erection of new buildings, paving yards, new fencing and landscaping.
Weitsman says one of the goals of the upgrades is to ensure the facilities are not an eyesore and present inconveniences for customers and the community.
Other recent acquisitions for Upstate Shredding – Ben Weitsman include Reamer Recycling, Ithaca, N.Y., and Valley Recycling, Allegany, N.Y., both of which were acquired in the summer of 2013.