- In October 2013, subsequent to the close of the third quarter, the Company secured $4 million of new financing through its WESSCO division ("WESSCO"), and used a portion of the proceeds to reduce its term loan with Fifth Third Bank (the "Bank");
- In December the Company appointed Sean Garber to be its President and to oversee the day-to-day management of the Company. Mr. Garber, a scrap industry veteran who had previously been an executive at ISA, is also currently an executive of Algar, Inc., a supplier of scrap metal to processors such as ISA;
- Also in December, the Company entered into a Management Services Agreement with Algar (the "Management Agreement"), whereby Algar will provide business, financial and organizational strategy consulting services to ISA.
Industrial Services Of America, Inc. Announces Third Quarter 2013 Results
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