Little Rock, Ark.-based Metal Recycling Corp. bought the assets of Sol Alman Co., also of Little Rock, on Dec. 18, Metal Recycling Corp. announced in a release. The company will retain its location at 1300 E. Ninth St. and continue buying, processing, and recycling scrap metal under the new name Alman Recycling Co.
As part of the agreement, Alman Recycling Co. will retain all its existing employees and managers. The executive leadership will also remain with the company: Charles and Larry Alman as executive managers, Charles Alman as chairman, and Larry Alman as president.
Steve Ronnel, co-owner of Metal Recycling Corp., told Arkansas Business that the move was inspired by the “smart growth” strategy of making strategic investments when “times are slow,” as the recycling of commodities has been during the COVID-19 pandemic. “Some would say, as the world wakes up from a pandemic, there’s going to be a need for metal products,” he added.
Little Rock mayor Frank Scott Jr. praised the move. “The City of Little Rock is pleased that Sol Alman Company is transferring ownership to a locally-owned company,” he said. “Metal Recycling Corp. is one of Little Rock’s finest and most committed corporate citizens. They care for their people and give back generously to our community.”
With the acquisition of Sol Alman Co., Metal Recycling Corp., a second-generation company founded by Lee Ronnel in 1979, operates three scrap metal recycling facilities in Arkansas.