ROME, N.Y. — Upstate Shredding, LLC and its sister business Ben Weitsman & Son, Inc. have announced the acquisition of the assets of Murtagh Scrap Handling, located at 7772 Tannery Road in Rome.
Upstate Shredding made the announcement in a news release distributed on Monday. No financial terms were disclosed.
Murtagh Scrap Handling is a privately held company that the Murtagh family established in 1986, according to the Weitsman release.
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The Owego–based firm expects to finalize the deal in January when the location will reopen as Ben Weitsman of Rome.
Murtagh is the firm’s “most strategic location acquired to date,” Adam Weitsman, CEO of Upstate Shredding – Weitsman Recycling, said.
“The location is perfectly situated in the state where we don’t yet have as large a presence. We will be investing a lot of money into this location to bring the scrap yard to the high standards that our other yards have become known for. We will turn this scrap yard into the market leader in the region within three months,” Weitsman contended in the release.
Weitsman has unveiled a $3 million plan to renovate the yard, which will include new buildings, new equipment, paving work, new fencing, and landscaping.
The project will begin “immediately,” according to the Weitsman news release.
Upstate Shredding said it would retain the current Murtagh employees and create an additional 10 jobs once the retail feeder yard formally opens under new ownership.
Ben Weitsman of Rome will be open seven days a week with expanded hours, the company said.
The acquisition comes as Upstate Shredding – Weitsman Recycling prepares to open its second shredder in New Castle, Pa. in early 2015.
The company contends that Upstate Shredding – Weitsman Recycling is the “East Coast’s largest” privately held scrap-metal processor, operating 15 locations throughout New York and Pennsylvania.
The company said it expects to have processed more than 1 million tons of ferrous and 250 million pounds of nonferrous metal in 2014.
Contact Reinhardt at ereinhardt@cnybj.com
