In a combination of two old line scrap metal recycling firms, Alter Trading Corp. is acquiring Joseph Behr & Sons. Both companies are more than 100 years old. The terms of the deal were not announced. The majority of Behr’s 350 employees have accepted positions with Alter.
RRstar.comom has the report.
Alter acquired nine metal processing sites in Illinois, Iowa and Wisconsin, including three shredding operations and a specialty metals business. Alter, founded in 1898, is a privately owned, fourth-generation company.
“Behr and Alter share a common history of more than a century in the metal recycling industry,” Behr stated in the letter. “The companies are built on a common foundation of core values that have helped pave the path of the recycling industry as we know it today. Leaving our family business in the capable hands of our friends at Alter make this difficult decision a little easier for me.”
He thanked his customers and employees.
Several employees didn’t want to comment on the sale.
In a release from Alter, company officials stated that this acquisition expands its “presence in the central United States.” With the Behr acquisitions, Alter now employs 1,325 workers and has 61 metal recycling sites and five trading offices in the U.S. and China.
“We hope to be a great part of the community and continue the long legacy of the Behr family,” Robinovitz said.