Ben Weitsman & Son Of Syracuse Scrap Metal Business Booms After Start-Up
Upstate Shredding's acquisition of Matlow Company has it experiencing amazing growth in the scrap metal processing industry. Since the Syracuse acquisition, the $8 million dollar modernization program has proceeded swiftly.
- (1888PressRelease) July 06, 2010 - Despite a slow economy, the first and second quarter of 2010 saw exceptional growth for Ben Weitsman & Son of Syracuse, located in Solvay, New York, both in volume of scrap metals processed and sales. As a division of Upstate Shredding LLC, the new Syracuse location has only been operational since late December. In that time, however, the volume of scrap metals processed is up six-times over start-up forecasts and sales up a remarkable 400 percent beyond management's conservative expectations.
"When we acquired the land and equipment of the scrap metal dealer Matlow Company, we had high hopes for our new Syracuse location. Our focus was modernizing the operation so we were surprised when the customer support ramped up as quickly as it did. We knew things were looking great, but the final first and second quarter accounting truly amazed us," said Steve Green, Upstate's Vice President.
Company vice president Steve Green attributed the majority of new sales to a growing base of commercial, retail, and industrial customers, such as a recent contract with Covanta's Onondaga resource recovery facility in Jamesville, New York. This installation processes 990 tons a of municipal solid waste per day generating up to 39.5 megawatts of electricity and recovers tons of scrap metal that would otherwise be landfilled. Ben Weitsman & Son - Upstate Shredding was the winning bidder for the 1st and 2nd quarter contracts for the Onondaga County Resource Recovery Agency (OCRRA).
Since the Syracuse acquisition, the $8 million dollar modernization program has proceeded swiftly. Renovations and painting of buildings and landscaping have been completed. Paving of the facility will begin shortly.
Increased traffic at the Syracuse scrap metal yard led to the extension of business hours from 6 AM to 6 PM, six days a week. To meet growing volume and expedite customers, a second truck scale was added along with additional yard equipment and roll-off trucks, and the Company expects to add an additional ten new employees.
Upstate Shredding LLC - Ben Weitsman & Son Inc. has numerous operations in Upstate New York and is the largest privately held scrap metal company on the east coast. The Company has set the goal of reaching $1 billion in debt free sales by continuing to make acquisitions in the tri-state area. It is currently in the process of opening another facility in Scranton, Pennsylvania.
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