Alter Trading Corp. announced that it has acquired the assets of Gopher State Scrap and Metal Inc. from owner Pat Daly for an undisclosed sum.
The deal was announced Sept. 19.
Gopher State has facilities in Mankato, Minn., and Des Moines, Iowa. The company operates both scrap metal processing and a railcar business, which includes railcar repair, demolition, parts sales and leasing.
Bob Ellis, general counsel for Alter Trading, says that that while the two facilities handle both ferrous and non-ferrous metals, the railcar portion of the business gives the company some additional access in the railroad and transportation business.
"We're very excited about this opportunity to combine the services of Gopher, the leading processor of scrap in Mankato since 1990, with those of Alter," said Robert Goldstein, president and CEO of Alter Trading. Alter, with 21 processing facilities in the Midwest, acquired another Minnesota scrap metal dealer, Becker Iron & Metal, last month. The company also has six trading offices, including one in China.
The two facilities will add an additional 40 employees to Alter, bringing the total number of Alter employees to more than 500.
Alter is headquartered in St. Louis.