Little Rock-based Metal Recycling Corp. announced Friday (Dec. 18) that it has closed on a transaction to purchase the assets of Sol Alman Company of Little Rock. Terms of the private transaction were not disclosed.
Previously Arkansas’ oldest scrap metal recycling business owned and operated by the founding family, Sol Alman Company was founded in 1905 by Charles Alman, the grandfather of current owners Charles Alman and Larry Alman. Their father Sol Alman ran the company from 1942 until his retirement in 1982.
Sol Alman Company, which has provided recycling services from its current location on East 9th Street, will continue buying, processing, and recycling scrap metals from the same location under the name Alman Recycling Company.
Charles and Larry Alman will maintain their executive management roles at Alman Recycling Company with Charles Alman as Chairman and Larry Alman as President. All existing Sol Alman Company managers and employees are being retained.
“We are proud to join forces with the Alman brothers, both of whom are highly respected in our industry and community, and we welcome the Alman employees and customers into the Metal Recycling Corporation family. Arkansas manufacturers, fabricators, contractors, and individuals who recycle scrap metal with Alman Recycling Company will receive the same high standard of personalized customer service going forward,” said Mike Ronnel, co-owner of Metal Recycling Corporation.
“Our father and company founder, Lee Ronnel, has always believed in ‘smart growth’ for our family business and this opportunity is a great fit for our company and everyone involved,” said Steve Ronnel, co-owner of Metal Recycling Corporation.
Metal Recycling Corporation is a second generation scrap metal trading and recycling company founded in 1979 by Lee Ronnel.
With this acquisition, Metal Recycling Corporation will operate three full service scrap metal recycling facilities in Arkansas. The scrap metals purchased and processed at these recycling plants are supplied as raw materials to be melted and formed into new metals at mills and foundries in Arkansas, the U.S., and around the world.
“Larry and I looked for a firm that has an impeccable reputation for integrity, shares our belief in civic involvement and financial stability, and would offer opportunities for our loyal customers and employees. We found just that with Metal Recycling Corporation,” said Sol Alman Company Chairman, Charles Alman.
“We have great confidence in the Ronnel family and their excellent team at Metal Recycling Corporation. Combining the Ronnel and Alman families brings 200 years of recycling management experience to the table for the benefit of our customers,” said Larry Alman, President of Sol Alman Company.