Alter Trading Corporation announced it is purchasing Little Rock, Ark.-based Tenenbaum Recycling Group (TRG). The acquisition will combine two scrap metal recycling companies that are each more than 120 years old.
According to Alter, the addition of TRG's 10 locations, which are primarily in Arkansas, further expands Alter's geographic reach and increases its number of facilities to more than 70. Alter stated it intends to continue to operate all of TRG's existing locations.
"This acquisition is the next important milestone in our growth strategy, and we are pleased to add another premier, family-owned, scrap metal recycler to Alter,” said Robert Goldstein, chairman of Alter Trading, in a statement. “We are committed to the seamless integration of these two exceptional companies, and we look forward to joining the business communities in Arkansas and southern Missouri.”
Recycling Today has more:
St. Louis-based Alter Trading Corp. has announced that it has entered into a definitive agreement to purchase substantially all the assets of Tenenbaum Recycling Group (TRG) of Little Rock, Arkansas. The acquisition unites two scrap metal recycling companies that are both more than 120 years old and have very similar cultures and histories of success, Alter says in a news release regarding the purchase. The transaction is expected to close on or about Aug. 24.
Alter has operations in Alabama, Illinois, Iowa, Minnesota, Mississippi, Missouri, Nebraska and Wisconsin. Fifteen of those locations have auto shredders on-site, while TRG operates two auto shredders in North Little Rock and Rogers, Arkansas.