The owners of Alton Steel might be interested in selling the business, thanks mostly to the past 10 years of success. Employees were reportedly told last week of a possible sale of the company, and potential buyers will be touring the company in the weeks ahead. It's not the first time there's been interest by an outside buyer, but now the time to sell could be right.
Alton Steel currently employs over 300 people, and is celebrating it's 10th anniversary this year. The complex was formerly Laclede Steel, with Alton Steel taking over operations in 2001 and emerging from bankruptcy in 2003 when it started the new company. It had record steel bar production, and with the automotive industry improving a buyer for the company could be possible. Members of Steelworkers Local 3643 signed a two year contact with Alton Steel earlier this year, and have been informed of the possibility of a sale. Both union and management agree that the company's success has been based on the hard work and cooperation of both sides.