Scrap company continues its expansion with Valley Recycling acquisition.
Upstate Shredding-Ben Weitsman has purchased scrap metal recycling facility Valley Recycling in an all-cash transaction. Valley Recycling, Allegany, N.Y., has been in business for 28 years.
“This facility has historically had lower sales volumes and higher margins; we’re going to change that,” says Adam Weitsman, president of Upstate Shredding. “We’re going to raise prices paid out to customers, fully renovate the facility, add staff and operate seven days a week to make this yard the very best it can be for both our customers and the community.”
The yard will be known as Ben Weitsman of Allegany with the transition expected to occur by the middle of August, according to Upstate Shredding. Tim Nolan, vice president of Valley Recycling, will be in charge of the location.
“We were approached by four separate companies, but Upstate – Ben Weitsman came in prepared, with cash on the table and little in the way of drama or reservation,” says Nolan. “We felt a great synergy and rapport with their management style and methods of doing business.”
Upstate Shredding – Ben Weitsman, headquartered in Owego, N.Y., includes more than 12 retail yards in New York and Pennsylvania. The company also operates one of the largest auto shredders in the world.
In addition to the current yards, Upstate Shredding is opening an export facility at the Port of Albany, N.Y., in July 2013 and recently announced a second shredding facility and scrap yard in New Castle, Pa.