Alter Trading Corp., headquartered in St. Louis, has purchased substantially all the assets of Schneider’s Iron & Metal Inc., headquartered in Kingsford, Michigan. The purchase expands Alter’s physical footprint into Michigan.
Theodore “Ted” Schneider founded the company, which operated four scrap metal processing facilities in Kingsford, Escanaba and Negaunee, Michigan; and in Marinette, Wisconsin, in 1948. The Kingsford facility includes the company’s automobile shredding operations, which feature a Metso 80x104 shredder that was installed in 2013, says Patrick Young, Alter regional director of operations for northern Wisconsin.
“The Schneider family has always run a great operation and has been a strong supporter of all local business in its communities, and we look forward to continuing in their footsteps and to expanding Alter’s presence in the Upper Peninsula,” says Michael Goldstein, senior vice president of operations for Alter.
Ron Schneider, president and co-owner of Schneider’s Iron & Metal, says, “After working for decades to build this business and maintain good family-supporting jobs for our community, we were committed to finding a buyer that would continue our tradition of integrity by valuing our employees and providing excellent customer service. We found that with Alter, a family-oriented company with a dedicated leadership and a business model that will continue this company’s success into the future.”
According to a news release from Alter announcing the transaction, the Schneider facilities will become part of the northern Wisconsin division of Alter, which is led by Young and his team based in Green Bay.
“We are extremely pleased to have completed the transaction, and I am especially looking forward to working with Ben and Aaron Schneider and the employees of Schneider as we welcome them to the Alter family,” Young says.
Ben Schneider has been managing the Kingsford yard, while Aaron Schneider has been managing the Escanaba facility, Young adds. Both men will continue to work in these capacities for Alter.
Bob Ellis, senior vice president and general counsel for Alter, says Schneider's Iron & Metal employed between 35 to 40 people, which Alter plans to retain.
The transaction closed May 31.
Founded in 1898, Alter Trading Corp. is a privately owned, fifth-generation company. With this acquisition, Alter operates 74 metal recycling facilities under the trade name Alter Metal Recycling in 10 states, as well as a representative sales office in Hong Kong.