Upstate Shredding - Ben Weitsman & Son Continues Acquisition Tear with Agreement to Purchase Liberty Scrap Metal

Online, September 8, 2010 (Newswire.com) - Owego, NY - Adam Weitsman, president of Upstate Shredding LLC - Ben Weitsman & Son, today announced an agreement to purchase Liberty Scrap Metal, Inc. located in Liberty, New York in an all cash transaction with owner Gary Zalkin. Zalkin will join the Upstate - Ben Weitsman team as general manager and the business will bear the name Ben Weitsman of Liberty.

In making the announcement Weitsman said, "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, New York. 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." Last November Upstate acquired Matlow & Company in Syracuse and in July the Weinstein Scrap Metal Corporation of Jamestown. 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 added.

Liberty Scrap Metal has been in business for over 40 years and the area's main hub of scrap metals collection and processing. As with all Upstate - Ben Weitsman facilities, Liberty will undergo major renovations to the yard and substantial equipment upgrades to reach the highest industry and environmental standards. The entire yard will be paved and equipped with a storm sewer system that complies with standards of the New York Sate Department of Environmental Conservation. Equipment upgrades at Liberty will include new truck scales, cranes, excavators, mobile shear units and new roll-off containers and trucks.

Upstate's good-neighbor policy, which prides itself on community involvement and the appearance of its facilities, will also landscape the property to mitigate noise and improve the look of the neighborhood.

Upstate - Ben Weitsman has an outstanding track record for community service, noise abatement and enhancement of its properties with modern, attractive industrial buildings and tasteful landscaping. Earlier this year the Company was awarded Business of the Year by New York's Tioga County Chamber of Commerce.

Expanded hours for customer convenience at Liberty will be announced shortly. Upstate Shredding - Ben Weitsman pays among the highest prices for scrap metals and customers are paid promptly the same day.

Upstate Shredding - Ben Weitsman is the largest privately owned scrap metal processor and recycling center on the east coast. With two locations in Owego and facilities in Binghamton, Ithaca, Jamestown and Syracuse, the Company processes more than 700,000 tons of ferrous and 100 million pounds of non ferrous metal per year. In the September 2010 issue of Inc. Magazine entitled "500," Upstate Shredding was honored as the fastest growing privately-held scrap metal processing company in the nation with a remarkable 186 percent growth rate from 2006 through 2009.