Scrap metal recycler USA Recycling Industries Inc. has bought a majority share of Energy Inc., a fuel oil delivery service firm.
Reading, Pa.-based USA Recycling, which works with the automotive service center market, acquired 51 percent of the common stock of Energy Inc., also of Reading. The company sells and distributes fuel oil to commercial and residential customers in Pennsylvania.
Vincent Smith, USA Recycling chairman and chief executive officer (CEO), also will serve as CEO and director of Energy Inc. Arlene Weidner will remain as president of Energy Inc., USA Recycling said in a news release.
“The finalized agreement with Energy Inc. allows the company to immediately broaden its services to include the sale and distribution of fuel oil to its existing commercial customers while we expand the company's customer base with a planned online marketing approach, offering fuel oil deliveries to customers via the convenience of the internet," Smith said.
USA Recycling, formerly known as Voyager Petroleum, Inc., moved into the scrap business in January of this year with the purchase of Scrap USA.