Dive Brief:
- Upstate Shredding-Weitsman Recycling announced that it will build a $15 million heavy media facility at its Owego, NY plant. The facility will process zorba, a mix of shredded nonferrous metals made mostly of aluminum, Recyling Today reports.
- The company was thinking of locating the facility in western Pennsylvania, but opted to expand the plant at the Owego location due to poor economic news coming out of the former region.
- The scrap metal processing and recycling firm anticipates the new state-of-the-art addition will be completed by mid-2015.
Dive Insight:
Upstate Shredding-Weitsman Recycling is touted as one of the largest privately-held scrap metal processors and recyclers on the East Coast. The company has made numerous acquisitions in the Northeastern region of the U.S. in 2014, including many facilities in New York and Pennsylvania. The firm is seeking facilities located in strategic areas, according to the company.
The company announced in January that it acquired Jack’s Recycling, a metal processing and recycling firm located in Mt. Morris, PA. In February, it purchased assets of Albany, NY-based Capital Scrap Metal Co., its fourth acquisition in a two-month timeframe. March saw the company buy Brant Auto Parts in Irving, NY.
Then, in July, the firm announced its struck a deal to buy Eastside Metals & Recycling Corp., an auto parts recycler and scrapper, based in Fort Ann, NY. And finally, in early December, the company announced that it purchased Murtagh Scrap Handling, based in Rome NY.
The company had, at one point, announced its goal of purchasing 50 properties to add to its assets. Upstate Shredding - Weitsman Recycling also shared its expectation to process one million tons of scrap metal and around 200 million pounds of non-metals in 2014.
