Phillip M. Krieger Named Chief Financial Officer For Upstate Shredding - Ben Weitsman & Son

Phillip M. Kriegerl former Chief Operating Office and Chief Financial Officer of Sims Metal Management East has joined Upstate Shredding-Ben Weitsman & Son Inc. He has assumed the position of Chief Financial Officer as announced by Adam Weitsman, President of the company. End Quote

(1888PressRelease) January 07, 2011 - Owego, NY - Adam Weitsman, president of Upstate Shredding - Ben Weitsman & Son, today announced that Phillip M. Krieger has joined his Company as Chief Financial Officer, effective immediately. Prior to joining Upstate, Mr. Krieger was Chief Operating Officer and Chief Financial Officer for Sims Metal Management East.

Mr. Krieger will supervise financial matters for Upstate Shredding LLC as well as its sister company Ben Weitsman & Son, Inc., both headquartered in Owego, New York as well as other Company facilities located in Binghamton, Ithaca, Jamestown, Liberty, Owego and Syracuse, New York, and Towanda, Pennsylvania.

"Phillip has a fantastic reputation in the industry and came highly recommended. I knew he was a man with vision to match ours," said Steve Green, Company Vice President. "We have experienced incredible growth over the past several years and Phil's financial, operational and administrative experience, especially his scrap metal background, will go a long way towards helping us reach our goal of $1 billion in debt-free sales and the continuation of our acquisition model."

Mr. Krieger comment on his appointment: "I saw an opportunity to join a unique company that is building a management team that is going places. The scope of acquisitions during 2010 was impressive, if not unparalleled for this industry. Adam's all-cash, debt-free philosophy is the type of business that America needs to return to."
Before joining Sims, Mr. Krieger was COO-CFO of Mercer International Group's Fairless Iron and Metal of Trenton, New Jersey.

Mr. Krieger has had a distinguished 20-year career in business and finance. He holds a B.S. in Economics from the Wharton School of Business, University of Pennsylvania and is a Certified Public Accountant. After graduation, he spent six years with Coopers & Lybrand's Financial Services Audit Group before becoming Corporate Controller and Treasurer for Sales Dynamics, Inc. for three years. After that he spent five-years as CFO-COO of Advanced Telecommunications Network, Inc., and later six years as General Manager of Boathouse Row Sports, Ltd,

Upstate Shredding LLC - Ben Weitsman & Son is the largest privately owned scrap metal processor and recycling operation on the east coast. The Company processes more than 700,000 tons of ferrous and 100 million pounds of nonferrous metal per year. In the 2010 issue of Inc. Magazine entitled "500," Upstate rated as the country's fastest growing privately held scrap metal processing company with a 186 percent growth rate from 2006 through 2009.

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