Upstate Shredding Continues Aggressive Expansion
Upstate Shredding Continues Aggressive Expansion with Acquisition of Weinstein Scrap Metal Corporation.
- (1888PressRelease) July 15, 2010 - Adam Weitsman, president of Upstate Shredding LLC and sister company Ben Weitsman & Son, Inc., today announced acquisition of the Weinstein Scrap Metal Corporation of Jamestown, New York in an all cash transaction. Former owner, Paul Weinstein and his son Eric Kress will continue in management positions at the new Ben Weitsman facility located at 610 West 8th Street in Jamestown.
Founded in 1912, the Weinstein scrap metal business is one of the oldest scrap metal dealers in Chautauqua County and western New York State. Located only 15 miles from Pennsylvania and 90 miles from Ohio, the 10-acre scrap yard provides Upstate - Ben Weitsman with broader market coverage to complement its other scrap metal facilities in Binghamton, Ithaca, Owego and Syracuse as well as a second location in Owego, Company headquarters and a mega-shredding, and metals processing plant.
Upstate Shredding 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 United States, 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: automobiles, HMS, P&S, steel turnings, bushling, copper, aluminum, and scrap generated from industrial production.
As with all Upstate - Ben Weitsman locations, the new Jamestown facility will undergo a major renovation and equipment upgrades to the highest industry and environmental standards. Immediate plans call for the demolition of existing buildings which will be replaced with modern, energy efficient structures.
The entire yard will be paved and equipped with a storm sewer system that complies with standards of the New York State Department of Environmental Conservation. Upstate's good-neighbor policy, which prides itself on community involvement and the appearance of its facilities, will also landscape the property to mitigate noise and improve the look of the neighborhood.
Equipment upgrades at Jamestown will include two new truck scales, four new cranes, two mobile shear units and new roll-off containers and trucks. Expanded hours for customer convenience and the addition of 10 new employees at the Jamestown operation will be announced shortly. The short term goal for the new Jamestown facility is ramping up sales ten-fold under Ben Weitsman ownership.
Upstate Shredding continues an aggressive business plan and has two more acquisitions currently underway in the tri-state area as part of its goal of reaching $1 billion dollars in annual debt free sales.
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