Industrial Services of America Inc. (ISA), a scrap metal recycling company headquartered in Louisville, Kentucky, has sold the second of what the company terms two nonessential properties.
On May 18, 2015, the company sold a 1-acre parcel of land for $350,000. In late April, the company sold the first parcel of real estate for $1 million.
“During a very difficult period in the ferrous metal recycling market, these transactions follow our strategic initiatives to strengthen the balance sheet and improve liquidity,” says Sean Garber, ISA president. “The ISA team is energized to now focus on the core business and to grow it both organically and through acquisitions.”
ISA sold the 1-acre parcel to SG&D Ventures LLC, an entity owned by shareholders of Algar Inc., which includes Garber.
“Algar’s quick purchase of the property further shows my commitment to the long-term success of ISA,” Garber adds.
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