KINGSFORD-BASED SCHNEIDER’S Iron & Metal now will be known as Alter Metal Recycling after being sold to Alter Trading Corp. of St. Louis.

ST. LOUIS — Alter Trading Corp. has purchased Kingsford-based Schneider’s Iron & Metal Inc., according to a news release from the company.

The business now will be run under the name Alter Metal Recycling, according to the company.

Schneider’s Iron & Metal has been a leading area recycler since its founding by Theodore “Ted” Schneider in 1948. The company operates scrap metal processing facilities in Kingsford, Escanaba, Negaunee and Marinette, Wis. 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.

“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,” said Ron Schneider, president and co-owner of Schneider’s Iron & Metal. “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,” Young said.

The transaction officially closed May 31.

Founded in 1898, Alter Trading Corporation is a privately owned, fifth-generation company; and is among the largest recyclers in the nation.

With this acquisition, Alter will operate 74 metal recycling facilities under the trade name Alter Metal Recycling in 10 states, as well as a representative sales office in Hong Kong, China.

Headquartered in St. Louis, Alter provides a direct supply of quality products and services, sourced both in America and abroad, to consumers in the United States and throughout the world.