Industrial Services of America, Inc. Announces Relocation of Seymour Scrap Collection Facility
LOUISVILLE, KY (December 16, 2014) -- 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 relocated its scrap collection and processing facility in Seymour, Indiana to a new location, also in Seymour. ISA’s new facility is located at 960 South, County Road 900 West, in North Vernon, Indiana. The new location, formerly operated by Cohen USA, is a 14.334-acre yard that provides easy access from Highway 50. Due to its larger footprint and more customer-friendly layout, the new location should allow ISA to expand its presence in the region. The new facility features a 64,622 square-foot building that will house the retail buying operation, allowing customers to drive in, park and unload inside an enclosed warehouse. In addition, ISA has increased its non-ferrous processing capabilities with a facility featuring a horizontal baler. “We are really excited about our new facility,” said Sean Garber, President of ISA. “The new location has improved accessibility and features a non-ferrous drive-through buying center, the only one in the region. We like operating in Seymour because it gives us the flexibility to supply our headquarters facility in Louisville, or to sell our material directly into the open market. We have performed well here over the past year, and expect to build our market presence further now that we have this new location.” ISA is under agreement to sell its former facility to Seymour Tubing, Inc., a subsidiary of Nippon Steel and Sumikin Pipe Co., Ltd. and Mitsui & Co. USA, Inc. to accommodate possible future growth. The transaction is expected to close within the next 30 days. ISA’s new facility opened for business on Monday, December 8, 2014. ISA’s 2014 SEC filings are available for review at the Securities and Exchange Commission web site at http://www.sec.gov/edgar/searchedgar/companysearch.html. About ISA Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded 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. More information about ISA is available at www.isa-inc.com. This news release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Specific risks include fluctuations in the price of recycled materials, varying demand for waste managing systems, equipment and services, competitive pressures in waste managing systems and equipment, competitive pressures in the waste managing business, and loss of customers. Further information on factors that could affect ISA’s results is detailed in ISA’s filings with the Securities and Exchange Commission. ISA undertakes no obligation to publicly release the results of any revisions to the forward-looking statements.