Press Releases

Industrial Services of America, Inc. Announces Sale of Company’s Waste Services Segment

LOUISVILLE, KY (December 11, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), (the “Company” or “ISA”), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, offers waste management programs and equipment to commercial customers and sells used auto parts, today announced the sale of its Waste Services segment. 

On December 4, 2015, Industrial Services of America, Inc. ("ISA") and WESSCO, LLC, a wholly owned subsidiary of ISA ("WESSCO," and together with ISA, the "Company"), entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") pursuant to which the Company sold its “Waste Services Segment,” consisting of substantially all of the assets used in (i) the Company’s commercial, retail and industrial waste and recycling management services business which the Company operated under the name “Computerized Waste Systems” or “CWS,” and (ii) the Company’s equipment sales, rental and maintenance business for the commercial and industrial waste and recycling industry which the Company operated under the name “Waste Equipment Sales and Service Company.”

The Company received cash consideration at closing of $7.5 million, less $150,000 retained by Purchaser which will be released to the Company or retained by the Purchaser in connection with any working capital adjustment.  Purchaser assumed certain liabilities relating to the Waste Services Segment, including but not limited to, current liabilities, warranty liabilities, and post-closing liabilities incurred in connection with transferred contracts.

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Industrial Services of America, Inc. Announces Second of Two Non-Essential Property Sales

LOUISVILLE, KY (May 22, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, offers waste management programs and equipment to commercial customers and sells used auto parts today announced the sale of the second of two non-essential properties.

On May 18, 2015, ISA sold a 1-acre parcel of non-essential real estate for an aggregate purchase price equal to independent third-party appraisal amount of $350,000.  This is the second of two sales of non-essential property that the Company has announced recently.  On April 30, 2015, the Company sold a non-essential parcel of real estate for a purchase price of $1.0 million.  The Company expects to use the proceeds from both sales for debt reduction and working capital.

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Industrial Services of America, Inc. Announces Key Hire for WESSCO business unit

LOUISVILLE, KY (January 26, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and offers waste management programs and equipment to commercial customers, today announced that industry veteran Tony Alvis has joined the company to further develop their growing Waste Equipment Sales and Service Company (WESSCO) and Computerized Waste Systems (CWS) divisions.

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Industrial Services of America, Inc. Announces Warm Idle of Company’s Auto Shredder

LOUISVILLE, KY (May 13, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and offers waste management programs and equipment to commercial customers, today announced the warm idle of the Company’s auto shredder.  ISA’s shredder is located in Louisville, KY and will be warm idled effective immediately.

This action is in response to current market conditions, primarily related to ferrous price volatility and lower ferrous volumes.  Management will continue to monitor and analyze market conditions and to review the Company’s long-term options for its shredder and related downstream processing operation.

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Industrial Services of America, Inc. Announces New Credit Facility

LOUISVILLE, KY (January 20, 2015) -- Industrial Services of America, Inc. (NASDAQ: IDSA), a company that buys, processes and markets ferrous and non-ferrous metals and other recyclable commodities, and offers waste management programs and equipment to commercial customers, today announced that it has executed a new $1,000,000 revolving line of credit for its WESSCO operating subsidiary.

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Contact

Industrial Services of America Inc.
7100 Grade Lane
Louisville, KY 40213

502.367.7100
1.800.824.2144
[email protected]