By Paul Ploumis 18 Sep 2015 Last updated at 08:38:59 GMT
ALBANY (Scrap Monster): The New York State Electric & Gas Corporation (NYSEG) has awarded the second phase of its $133,633 grant to Upstate Shredding. The economic development grant of $69,000 was received by Adam Weitsman, CEO of Upstate Shredding-Weitsman Recycling at a function held at the company’s scrap metal yard.
The grant will be utilized to push the $3 million improvement project further by installation of a new 9,000 HP motor to drive its mega shredder. The proposed expansion works are expected to boost Upstate’s production capabilities by 30% and contribute additional $10 in sales per annum.
Speaking on the occasion, Adam Weitsman noted that technological advancement has been the key to the success of the company so far. He expressed his gratitude to NYSEG for supporting the company’s growth in the region. He remembered that NYSEG has been associated with the company for decades now. Incidentally, NYSEG supplies electricity to run the plant & machinery at Upstate Shredding facilities.
Meantime, Mark S. Lynch, president and CEO of NYSEG hoped that the support will bring in more benefits to the region. Further, he expressed immense pleasure in awarding the grant.
Upstate Shredding is the largest privately held scrap metal processor on the East Coast. In New York, it operates scrap facilities in Solvay, Owego, Ithaca, Binghamton, Brant, Jamestown, Hornell, Rochester, Albany and Allegany. The company aims to process more than 1.05 million tons of ferrous and 250 million pounds of nonferrous scrap metal in 2015.