Owego, N.Y.-based Upstate Shredding said in a news release it has “big plans” for the new location, calling it the company’s most strategic location purchased to date. The facility is located between Syracuse and Utica in the heart of Oneida County.
Upstate Shredding expects to complete the deal in January and open the facility as Ben Weitsman of Rome at that time.
“This is a very strategic move for the company as we continue to expand throughout the Northeast,” said Adam Weitsman, Upstate Shredding CEO. “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.”
Weitsman said the company will spend $3 million to renovate the yard, including new buildings, equipment and other improvements. Upstate Shredding will expand the facility’s hours, retain the existing employees and add 10 more jobs once the retailer feeder yard formally opens under the new ownership.
The acquisition comes as Upstate Shredding opens its second shredder in New Castle, Pa., in early 2015.
Murtagh Scrap Handling is a privately held company established in 1986 by the Murtagh family.