An article in the Pittsburgh Post-Gazette reports that the New Castle, Pennsylvania, yard of Upstate Shredding- Weitsman Recycling, Owego, New York, continues to do a brisk business.
The company bought the New Castle yard in 2012 for $2.2 million, the article says, with refurbishments costing another $22 million. The yard was opened Saturday, May 7, 2016.
According to the article, prior to the yard’s opening, an August 2014 Facebook post by CEO Adam Weitsman issued a direct challenge to two local scrap yard operators: Carl Icahn of Icahn Enterprises and Carlos Aguero of Metalico.
“This will be our biggest battle ever going against them right on their home turf,” Weitsman writes. “Carlos and Carl … time to get out of your corporate offices, park the yachts and get ready for the fight of your life. I’ll be there soon.”
Since the yard’s opening, Aguero sold Metalico to Chinse investors as an alternative to submitting to Weitsman’s offer to purchase the company. Icahn’s Beaver Falls, Pennsylvania, plant is currently idled.
“On the work side, [Weitsman’s] very competitive and he wants to win,” Rachel Cornwell, an administrative assistant for Upstate Shredding, told the Post-Gazette. “He wants to crush all these companies.”
Upstate Shredding – Weitsman Recycling has received several awards, including the Global Metal Award by Platts, and the Scrap Company of the Year award by American Metal Market (AMM).
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