NEW YORK Alter Trading
Corp. has acquired a large warehouse in Illinois and completed
a greenfield expansion as it targets rapid growth in the state,
Sources familiar with the
development said the St. Louis-based scrap company bought a
warehouse in Peoria it previously was leasing. The company also
has launched operations at a second warehouse facility in
Bloomington, with one source calling that expansion a "small
The company did not disclose
financial details of the transactions or what volumes the new
site is equipped to process.
A company spokesman said it will
focus "aggressively" on both ferrous and nonferrous scrap
collection and processing at the Bloomington facility, which
AMM understands will serve as a feeder yard to the
companys shredder in Davenport, Iowa.
"One thing that is unique about
Bloomington is that our ferrous operation is under cover, so
there are no exposures for environmental impact," the spokesman
A second company source said the
Bloomington expansion is part of the companys strategy to
expand its geographical reach to the East.
"This will give us further
penetration in Illinois. Weve had a similar warehouse in
Peoria. We were leasing it, so we went ahead and acquired the
building there last month," he said. "Family auctioned the
building, so we bought it just before Thanksgiving."
The Bloomington facility, which
became operational just before Thanksgiving, also is set up to
ship nonferrous scrap directly to end-users.
Alter Tradings expansion
in Illinois comes just two months after the company announced
it had acquired Milwaukee-based recycler Miller Compressing Co.
for an undisclosed sum (
amm.com, Sept. 28).