American Iron & Metal snaps up Roth Steel site

United States – Scrap company American Iron & Metal Co has reached a deal to buy the former Roth Steel site at Syracuse in the US state of New York for US$ 687 500. The 23-acre scrap yard next to Onondaga Lake is said to have become highly polluted.

American Iron & Metal has already paid the full purchase price as a deposit, although the deal is subject to approval from the bankruptcy court on May 7.

Upstate Shredding’s Adam Weitsman had previously showed interest in making the acquisition for roughly the same price but eventually decided against it, he has suggested, because of the condition of the property.

American Iron & Metal owns seven operations in the USA as well as one in Hong Kong, with revenues reputedly of US$ 1.5 billion per year.