Owego, N.Y.-based Upstate Shredding said in a news release the all-cash transaction will close by the end of August. When the deal is complete Upstate will pave the facility, redo the buildings and bring in new equipment.
Reamer, also known as Wallace Industries, is headquartered in Ithaca, N.Y.
“Reamer Recycling is the Finger Lakes largest scrap yard, and we are thrilled to have them as a part of our network.” said Adam Weitsman, president of Upstate Shredding-Ben Weitsman.
Bill Reamer, former owner of the company, will stay on to assist with the transition.
Upstate Recycling said it is discussing buying other scrap yards in New York and Pennsylvania.