Owego, New York-based scrap metal processing and recycling company Upstate Shredding LLC has announced that it has appointed Phillip M. Krieger as the company's new chief financial officer, while Adam S. Rosenthal has joined the company as director of acquisitions.
Upstate Shredding's president Mr. Adam Weitsman said that, considering the incredible growth over the past several years, the appointment of Mr. Phillip M. Krieger will help the company to reach its goal of $1 billion in debt-free sales and the continuation of its acquisition model.
"Over the past year we have acquired businesses in Syracuse, Jamestown and Liberty, New York and in Towanda, Pennsylvania," Mr. Weitsman said, adding that in the next 60 days the company plans to announce more exciting acquisitions. "Mr. Rosenthal knows the business inside and out and that is what it takes to evaluate and complete successful acquisitions as well as the integration that needs to come with it," he said.
Upstate Shredding is the US East Coast's largest privately-held scrap metal processor and recycling center, and one of the largest operations of its type in the eastern United States. The company processes more than 700,000 tons of ferrous scrap and approximately 100 million pounds of non-ferrous scrap a year. In the September 2010 issue of Inc. Magazine, Upstate Shredding was described as the fastest growing privately-held scrap metal processing company in the US with a 186 percent growth rate from 2006 through 2009.