Upstate Shredding Nears Deal with Syracuse Scrap Recycler

Upstate Shredding, based in Owego, N.Y., has announced the upcoming acquisition of Matlow Co., based in Solvay, N.Y. The all-cash deal to acquire the assets, land and equipment of the ferrous and nonferrous scrap metal dealer is scheduled for closing by the middle of next month.

Matlow has served the Syracuse scrap metal market for more than 90 years and, according to a press release issued by Upstate Shredding, will complement its and its sister company Ben Weitsman & Son scrap metal processing operations in Owego, Binghamton and Ithaca. 

Steve Green, Upstate’s executive VP, will manage the Syracuse operation.

The Syracuse facility will undergo significant upgrades to make it a more modern, environmentally responsible location. Plans call for the facility to become a feeder station for Upstate Shredding's Owego mega scrap metal processing plant that is undergoing a $25 million dollar upgrade, Adam Weitsman, president of Upstate, says. 

Upstate also says it expects to open a seven-acre scrap metal site in Scranton, Pa., in spring 2010. The company also is looking at other locations in the Northeast.

Upstate’s Syracuse operation will be open seven days per week and operate under the Ben Weitsman & Son name. The facility will undergo renovations to meet the high environmental and operational efficiency standards set at other Upstate facilities, according to the company. The changes include new buildings, complete yard pavement, the installation of a new stormwater treatment plant and landscaping for noise mitigation and to improve community aesthetics. 

Equipment upgrades will include three new Sennebogen cranes, two new mobile shears and a new Harris HRB baler. By installing new high-speed conveyors, new container loading systems, coupled with Upstate’s fleet of 1,200 roll-off containers and direct rail access, the Syracuse location will have access to global scrap metal markets for the first time, the company says. 

Until the acquisition, Matlow sales were historically 100 percent domestic but they are expected to become 90 percent export and 10 percent domestic to fall in line with Upstate’s sales distribution. After staff reviews, the new operation is likely to create additional jobs.