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Upstate buys Valley Recycling in cash purchase

United States – US scrap metal processor Upstate Shredding-Ben Weitsman has acquired Valley Recycling, a 28-year-old scrap yard in Owego. Following the all-cash transaction, the facility will operate as Ben Weitsman of Allegany.

According to Upstate’s ceo Ben Weitsman, the business will benefit from offering customers higher prices, as well as from a ‘complete overhaul’ of the property and increased manpower. ‘This facility has historically had lower sales volumes and higher margins; we’re going to change that,’ Weitsman explains. The yard will operate ‘seven days a week’ in order to make it ‘the very best it can be’ for both customers and the community.

Tim Nolan, vice president of Valley Recycling, will be in charge of the facility. Commenting on the deal, he says: ‘We were approached by four separate companies, but Upstate-Ben Weitsman came in prepared, with cash on the table and little in the way of drama or reservation. We felt a great synergy and rapport with their management style and methods of doing business.’

Upstate is also opening an export facility at the Port of Albany over the summer, and has announced plans to start up another shredding facility and scrap yard in New Castle. The latter move is aimed at improving the marketing of the 1 million tons of ferrous and 200 million pounds of non-ferrous scrap the company expects to process in 2014.

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