Private investor increases ownership stake to over 5%. See 13D/A
The purpose of the share purchases is for investment in a leading scrap recyler. The filer believes that IDSA management is doing an excellent job navigating through a difficult stainless steel demand environment. IDSA's valuation has been depressed by temporary earnings pressure, an uncertain macro picture, equity market volatility and a lack of sponsorship. Future purchases and sales of IDSA common stock are possible. The filer hopes to work with IDSA's management and Board of Directors to increase shareholder value and raise the company's visibility with prospective investors. Also, the filer will encourage certain members of the Company's Board to make a more significant investment in the Company's shares with personal funds in order to align their interests more directly with the interests of shareholders. If these purchases donot take place relatively soon, filer intends to introduce a measure for shareholder vote that would require minimum levels of stock ownership for Board members.
Recycling
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