Owego, NY (WBNG Binghamton) Owego-based Upstate Shredding has closed on another scrap metal recycling yard in Upstate New York.
The company has closed on the purchase of Weinstein scrap yard in Jamestown.
Upstate Shredding – Ben Weitsman & Son says it will invest $4 million in the newly acquired business to make it more environmentally friendly and a better neighbor to those around it.
“The Jamestown facility will be an excellent example of our good neighbor policy,” said Adam Weitsman, president of Upstate Shredding LLC and sister company Ben Weitsman & Son, Inc. “Upstate Shredding prides itself on community involvement and the appearance of its facilities.”
Upstate Shredding bought the Jamestown scrap yard in July for cash; the transaction closed on May 2.
The 10-acre property will be repaved to better control storm-water runoff, a storm-water treatment system will be installed to treat the runoff, and will be re-landscaped to make it look nicer and to help control noise.
The yard will also get a complete environmental remediation and a new fence around the property to make it more secure.
Weitsman will also tear down the existing buildings and replace them with new, energy efficient buildings.
As part of the $4 million investment, the company will also bring in brand new equipment, new scales and customers will be paid in cash the same day.
Previous owners Paul Weinstein, Rick Kress, and David Weinstein will stay on with Weitsman to manage the facility.
“We welcome Paul, Rick and David to our company,” Weitsman said. “Their knowledge and leadership in Jamestown will prove invaluable as we focus on our commitment to the environment, safety and the communities where we do business.”
Upstate Shredding has set a goal of reaching $1 billion in annual debt-free sales.
The company is the east coast's largest privately held scrap metal processor and recycling center, and one of the largest operations of its type in the eastern U.S. Upstate processes more than 700,000 tons of iron and approximately 100 million pounds of non-ferrous scrap a year.
Upstate's metal shredding and separation operation handles all types of ferrous and non-ferrous scrap metals.