The new Ben Weitsman facility in Jamestown, NewYork will receive $4 million in environmentally-friendly upgrades as it becomes fully integrated into the operations of Owego’s Upstate Shredding-Ben Weitsman company.
Upstate Shredding purchased the Jamestown business in July 2010; the all-cash transaction closed May 2.
Terms of the acquisition were not released, but as part of the transaction, Upstate Shredding satisfied more than $200,000 in past due taxes connected to the 10-acre property that were owed by the previous owner, the company said.
Founded in 1912, the former Weinstein scrap metal business is one of the oldest scrap metal dealers in Chautauqua County and western New York.
Former owner Paul Weinstein, Rick Kress, and David Weinstein will continue in management positions.
Planned improvements include complete environmental remediation of the facility, paving the entire scrap yard, and the installation of storm water treatment systems to protect the surrounding environment.
Environmental safeguards will be implemented, and a new fence will be erected to enclose and secure the property.
Existing buildings will be demolished, and new, energy-efficient buildings will be constructed in their place.
As part of the company’s good neighbor policy, Upstate Shredding will landscape the property to mitigate noise and improve the look of the neighborhood.
Additionally, Upstate is bringing in brand new equipment, brand new scales, and a capital infusion that will allow retail and industrial customers to be paid in cash the same day, the company said.
