Upstate Shredding Continues Acquisition Spree

Adam Weitsman, president of Upstate Shredding LLC - Ben Weitsman & Son, says the company has agreed to purchase Liberty Scrap Metal Inc. of Liberty, N.Y., in the southeastern part of that state. The all-cash transaction with owner Gary Zalkin also has Zalkin joining Upstate Shredding – Ben Weitsman as a general manager. The business will be renamed Ben Weitsman of Liberty.

In making the announcement, Weitsman says, “This will be our third acquisition in less than a year as part of our strategic plan to increase market coverage to help feed our mega shredding and metals processing plant in Owego, N.Y. It’s a very synergistic transaction. The Liberty location in Sullivan County is in the heart of the Catskill Mountains. It’s only an hour drive from the New York City metro area and will give us much broader access to downstate raw materials.”

In November of 2009, Upstate acquired Matlow & Co. in Syracuse and in July of 2010 the Weinstein Scrap Metal Corp. of Jamestown, N.Y., was acquired. The companies were renamed Ben Weitsman of Syracuse and Ben Weitsman of Jamestown.

“We are also in the process of opening a new facility in Northeastern Pennsylvania and actively looking for other acquisitions in the tri-state region to reach our goal of $1 billion dollars in annual debt-free sales,” Weitsman adds.
Liberty Scrap Metal has been in business for more than 40 years. The company will undergo significant renovations to the yard and substantial equipment upgrades. The entire yard will be paved and equipped with a storm sewer system that meets New York State Department of Environmental Conservation standards. Equipment upgrades at Liberty will include new truck scales, cranes, excavators, mobile shear units and new roll-off containers and trucks, according to Weitsman.

The company also says expanded hours at the Liberty location will be announced.

Upstate Shredding – Ben Weitsman has two locations in Owego, N.Y., as well as facilities in Binghamton, Ithaca, Jamestown and Syracuse, N.Y. The company processes more than 700,000 tons of ferrous and 100 million pounds of nonferrous metal per year.