To meet growing demand, e-scrap recycling company Hugo Neu Recycling will close its facility in Mount Vernon, New York and open a larger, more advanced one in New Jersey, the company says.
“It certainly will meet the demands of our growing business,” Alan Ratner, the company’s president, told E-Scrap News.
Hugo Neu Recycling provides various services for organizations. While Ratner said Hugo Neu’s primary business is in collecting and recycling e-scrap, the company also provides data destruction and refurbishment services.
Hugo Neu Recycling’s new facility in the northern New Jersey town of Kearny is estimated to be roughly 40 percent larger than the one being closed, and it will incorporate newer technologies, according to Ratner. The company was awarded a 10-year, $4.5 million Grow New Jersey loan from the state’s Economic Development Authority to help finance the relocation.
While the company plans to close its current recycling facility in Mount Vernon, it will retain a separate shredding and downstream recycling facility there. According to Ratner, the company doesn’t know yet whether it will see a net job gain or loss, but all of the employees at the facility slated for closure have been invited to transfer to the new one. Mt. Vernon is about an hour’s drive from Kearny.
“Our hopes are that our workforce joins us,” he said.
Hugo Neu Recycling plans to have the Kearny facility operating by the end of April.