Colt Refining Acquires Waste Management and Recycling Products Inc.

Merrimack, N.H.-based Colt Refining Inc. has acquired Waste Management and Recycling Products Inc. (WMRP) of Scotia, N.Y.

According to a release issued by Colt, WMRP is the largest electronics recycler and asset recovery firm in the Capital Region of upstate New York and has been in operation for more than 20 years.

Colt Refining operates precious metal refining and electronics recycling facilities in Merrimack and Hudson, N.H.

“This acquisition enables WMRP to better serve our clients by offering a complete downstream process for the materials we handle,” says Peter Muscanelli, president of WMRP. “Colt’s fully auditable shredding and separation technology, coupled with their precious metal refining capabilities, provides a platform for us to increase our service offerings and expand the business in the region.”

Muscanelli has been named vice president of sales and marketing for Colt Recycling, the e-scrap processing division within Colt.

Harvey Gottlieb, president of Colt Refining, says, “We are excited to have completed this acquisition and look forward to integrating the WMRP facility into our operations. Peter’s extensive industry experience, including his founding and development of the International Association of Electronics Recyclers (IAER), will serve him well in his new role with Colt as we look to expand into other locations and regions of the country.”

With the acquisition of WMRP and its 40,000-square-foot processing facility, Colt says it now has the ability to leverage this location to expand its electronics recycling and asset recovery services beyond the New England states.

The company says its plans for 2010 include developing additional processing locations, forging strategic partnerships and exploring potential acquisitions that expand Colt’s geographic reach.

Colt Refining operates what it calls the largest precious metals refining facility on the East Coast. The operation was designed to process all types of precious-metals-bearing materials and includes state-of-the-art thermal oxidizing systems; induction melting equipment; milling, blending and sampling process equipment; and chemical processing lines.

Colt Recycling, the e-Scrap processing division of Colt Refining, processes in excess of 20 million pounds of material annually.