The majority of the nearly 350 employees of Joseph Behr & Sons have accepted positions with Alter Trading Corp., which bought the Rock River Valley company today an Alter official said.
Behr Chairman Richard Behr issued a letter today, disclosing the sale of the company his grandfather established 110 years ago to the St. Louis-based Alter, which is a scrap metal recycling company with sites in eight states and Hong Kong. Neither company disclosed the sale price or how long they’ve been in negotiations.
Alter President and Chief Operating Officer Jay Robinovitz said jobs were offered to all of Behr’s nearly 350 employees, and all but 50 will begin working as Alter employees. Some opted for retirement, resigned or cited family reasons for not accepting a position with Alter, Robinovitz said.
“We will be open Monday morning and (customers) will see the same people and receive the same service,” Robinovitz said today while smoking a cigar outside the Rockford recycling plant as he overlooked the scrap yard. “We look forward to continuing many great years of service.”
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.
To read the full story, visit http://www.rrstar.com/news/20161007/st-louis-company-buys-behr-most-to-retain-jobs-coo-says.