The Cranford-based manufacturer is buying a 22-acre site in DeWitt, New York.Metalico (AMEX: MEA) of Cranford plans to acquire a 22-acre, 108,000-sq.-ft. property located in DeWitt, N.Y., for an undisclosed sum. Metalico is a holding company engaged in scrap metal recycling and the fabrication of lead-based products.
The company plans to open a new scrap-processing facility on the property to serve the central New York market. Metalico Syracuse, a subsidiary of the company, will provide ferrous and nonferrous scrap handling services at the new facility.
Metalico operates six recycling facilities and six lead fabrication plants in half a dozen states. Company shares gained $0.03 to $4.20 in afternoon trading.
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