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Alter Trading Acquires Schneider's Iron & Metal, Inc.

May 31, 2019

Alter Trading Corporation is pleased to announce that it has purchased substantially all the assets of Schneider's Iron & Metal, Inc. based in Kingsford, Michigan.

Schneider's Iron & Metal has been the leading area recycler since its founding by Theodore "Ted" Schneider in 1948. The company currently operates 4 scrap metal processing facilities located in Kingsford, Escanaba and Negaunee, Michigan; and Marinette, Wisconsin. The Kingsford facility includes the company's shredding operations.

"The Schneider family has always run a great operation and has been a strong supporter of all local business in its communities; and we look forward to continuing in their footsteps and to expanding Alter's presence in the Upper Peninsula," said Michael Goldstein, Senior Vice President of Operations for Alter.

Ron Schneider, President and co-owner of Schneider's Iron & Metal, stated: "After working for decades to build this business and maintain good family-supporting jobs for our community, we were committed to finding a buyer that would continue our tradition of integrity by valuing our employees and providing excellent customer service. We found that with Alter, a family-oriented company with a dedicated leadership and a business model that will continue this company's success into the future."

The Schneider facilities will become part of the Northern Wisconsin division of Alter, led by Patrick Young and his team based in Green Bay. "We are extremely pleased to have completed the transaction and I am especially looking forward to working with Ben and Aaron Schneider and the employees of Schneider as we welcome them to the Alter family", commented Mr. Young.

The transaction officially closed on May 31, 2019.