Alter Trading Corp. Completes Acquisition of Milwaukee Scrap Assets

SEATTLE (Scrap Monster): St. Louis-headquartered Alter Trading Corp. has completed acquisition of certain assets of Milwaukee-based United Milwaukee Scrap LLC. The transaction was carried out in accordance with the provisions of Chapter 128 of the Wisconsin Code.

Further to the transaction, Alter Trading has opened for business on Monday, five of the former United locations. Almost all of the 100 around employees across United’s locations have been offered employment. Many of them will be employed at the new $15 million nonferrous recovery facility, which is expected to open at its existing Milwaukee location in early-January next year.

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Jay Robinovitz, president and CEO, Alter Trading Corp. noted that the acquisition will help the company to grow its customer base and service to the greater Milwaukee and eastern Wisconsin regions. It complements the operation of auto shredder facility located at its Milwaukee yard, he added.

Alter Trading Corp. had competed with 66 potential buyers for the auction to buy assets of the scrap metal business that had run into financial trouble. The company had earlier purchased Michigan-based Schneider’s Iron and Metal in June this year. Prior to that, it had also acquired Arkansas-based Tenenbaum Recycling last year.