Mercer Wrecking & Recycling, Trenton, N.J., is expected to finalize a deal to take ownership of two scrap yards previously owned by the defunct Recycling Industries’ scrap company. Mercer acquired the two yards for $3.3 million.
The two yards, known as Jacobson Metal, include one facility in Chesapeake, Va., and a feeder yard in Suffolk, Va. According to Mario Mazza, president of Mercer, the company hopes to reopen the yards within the next three to four weeks and have roughly 60 employees. When the deal is finalized, the scrap yards will go under the name Bay Bridge Enterprises LLC.
Equipment that is included in the acquisitions includes a Newell shredder, two Harris shears, 750 Harris Shear, trucks, trailers, roll-off containers, and other equipment. Along with the equipment, the yard has around 15,000 tons of ferrous scrap in inventory.
Mazza says the goal of the two scrap yards will be to handle and process round 15,000 tons of scrap metal a month at the two yards.
In addition to handling scrap, Mazza says a goal of acquiring the yards, especially the Chesapeake facility, will be to diversify. Plans will include getting more involved in unloading and unloading bulk commodities at the yard. The facility has direct access to the Elizabeth River, allowing for barge traffic through the Chesapeake Bay. Additionally, the yard has two rail lines.
The acquisitions will be the first yards for Mercer outside the New Jersey area.
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