Shredding ranked as fastest growing private scrap metal processor
The September 2010 issue of Inc. Magazine
featured the “Inc. 500” with Upstate Shredding LLC listed as
the fastest growing privately-held scrap metal processing company
in the country with a remarkable 186 percent growth rate from
2006 through 2009.
To qualify for the awards list companies had to be United States
based, privately held, for profit, independent and not subsidiaries
or divisions of other companies. For eligibility in the awards,
Upstate underwent a rigorous audit process.
Upstate was listed in the awards under the environmental services
section. Company revenues grew from $70.2 million to $201.3 million
over the three-year period. Upstate ranked as the largest scrap
metal processing company, the second largest revenue producer
in the category for 2009, only exceeded by an environmental services
Since 2006, Upstate has made substantial investments in plant
and equipment, including a $25 million dollar upgrade to its
Owego, New York mega-shredding and metals processing line to
incorporate the latest high-technology separation equipment.
It has also expanded operations throughout New York State, the
Northeastern and Midwestern states and into Canada an aggressive
program of alliances and acquisitions through all-cash transactions.
Over the past few years a number of top industry management executives
have also joined the company. From two facilities in Owego and
one each in Binghamton and Ithaca, since 2006 it has acquired
scrap metal companies in Syracuse and Jamestown and this month
signed a letter of intent to acquire a scrap metal company based
in Liberty, New York. Additionally, the company is in the process
of acquiring a new facility in Scranton, Pennsylvania.
An integral part of Upstate’s growth strategy is a good-neighbor
policy in the communities it serves by creating good jobs, upgrading
facilities, and instituting noise-abatement, environmental systems,
landscaping, and contributing to area wide improvements. In January,
as recognition of its pro-active community involvement Upstate
was awarded Business of the Year by New York’s Tioga County Chamber