Assets of Schneider’s Iron & Metal Acquired by Alter Trading
St. Lious, Missouri-headquartered Alter Trading Corporation announced that it has purchased substantially all of the assets of Schneider’s Iron & Metal, Inc.- a leading scrap metal processor based in Kingsford, Michigan. With this acquisition, Alter Trading has expanded its footprints into Michigan. The transaction came to a close in May 31, 2019, said the press release issued by the company.
According to industry sources, Schneider’s Iron & Metal, Inc. presently operates four scrap metal processing facilities located in Kingsford, Escanaba and Negaunee, Michigan; and Marinette, Wisconsin. Incidentally, the Kingsford facility also hosts automobile shredding operations. Further to the deal, the above facilities have now become part of the Northern Wisconsin division of Alter.
Michael Goldstein, senior vice president of operations for Alter noted that the company looks forward to continue in Schneider’s footsteps and expand its presence in the Upper Peninsula. Meantime, Ron Schneider, president and co-owner of Schneider’s Iron & Metal hoped that Alter’s dedicated leadership and successful business model will help them continue the company’s success into the future.
The acquisition takes Alter’s total number of metal recycling facilities to 74. The company now has presence in as many as ten U.S. states.