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Alter Trading Corp. of St. Louis announced Tuesday that it will build a new dedicated metals separation plant in North Little Rock in partnership with Toyota Tsusho America Inc., a subsidiary of Toyota Tsusho Corp. of Tokyo.
The company is creating a new LLC, for the operation, Altech Recycling, designed to produce high quality aluminum products to supplement demand at TAI production facilities and other business partners in North America.
The plant, on Central Airport Road in North Little Rock, will convert post shredder mixed metals (referred to as Zorba) from Alter and other shredder operating companies to meet global demand. Altech Recycling will process Zorba and produce two main products: a clean aluminum product called Twitch and secondary products called “heavies.”
The new entity will initially have about 25 employees and is scheduled to begin operations in the second quarter of the year.
“We are proud to be joining forces with one of the world’s global business leaders on this project,” Jay Robinovitz, Alter’s president and CEO, said in a news release. “The combined talents and strengths of the two entities will provide a quality long-term solution to suppliers, consumers and business partners.”
“At TAI, we are committed to generating value in our communities and the marketplace by creating solutions beneficial to all,” Shawn O’Connor, TAI vice president and head of the metals division, said. “TAI’s innovative collaboration with Alter, a company well known and respected for its recycling expertise and track record, is a testament to what is possible when we team up for the good of not only business, but society.”
The formation of Altech Recycling follows two Arkansas acquisitions by Alter Trading.
In 2018, the company bought Little Rock’s Tenenbaum Recycling Group for an undisclosed amount. Tenenbaum, with 10 locations in Arkansas and Missouri, was No. 46 on Arkansas Business’ list of the state’s largest private companies by revenue before it sold and became a division of Alter Trading. Tenenbaum’s former CEO Jack Grundfest was named Alter’s senior vice president and chief administrative officer in March 2019.
In November 2019, Alter Trading closed on its purchase of Jonesboro Recycling Team. It’s doing business as TRG Jonesboro there.