Upstate Shredding - Ben Weitsman & Son, Owego, N.Y., has announced the acquisition of Towanda Iron & Metal Inc., Towanda, N.Y. The deal is expected to close by Jan. 2, 2011. Towanda Iron & Metal has been in the scrap metal business for more than 60 years and handles ferrous and nonferrous metals.
When the deal is complete, Towanda Iron will change its name to Ben Weitsman of Towanda. Brad Aronson, current president and owner of the company, will manage the location. All current managers and staff will remain to ensure business continuity, according to a press release from Upstae Shredding announcing the acquisition.
Adam Weitsman, president of Upstate Shredding, commented on the deal: “Towanda fits perfectly into our strategic expansion plan and the location is ideal for acquiring and transporting scrap metals to our mega shredder in Owego, N.Y..”
Weitsman also says the facility will undergo a major renovation and equipment upgrade, including the construction of a steel warehouse; paving of the entire yard; the installation of new truck scales, cranes, mobile shears and loading machines; and the purchase of a fleet of trucks and roll-off containers.
“Plant modernization, maintaining the highest environmental standards, noise abatement and our good-neighbor policy are hallmarks of all our operations,” Weitsman adds. “We have three additional acquisitions planned for 2011 and will continue to expand throughout the Tri-State Area on our way to our goal of one billion dollars in annual debt-free sales.”
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