News:
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Monday May 17, 9:30 am Eastern Time
Company Press Release
SOURCE: U.S. Industrial Services, Inc.
U.S. Industrial Services, Inc. Announces New Direction
HOUSTON, May 17 /PRNewswire/ -- U.S. Industrial Services, Inc. (OTC Bulletin Board: USIS - news) announced today that it has signed an exclusive agreement with a group of insurance executives headed by Mr. James Leach of Dallas, Texas, to pursue strategic opportunities in the insurance industry.
Mr. Leach is currently Vice-Chairman, General Counsel and a Director of Unistar Financial Services, Inc. (will trade on Amex beginning May 17) and will continue in that capacity while providing strategic direction to USIS.
Mr. David Norris, Chairman and President of USIS stated, ''the company is excited about the opportunity of entering the dynamic insurance industry under the
guidance of a seasoned group of insurance executives that has over 100 years of combined experience in all facets of the insurance industry.''
Mr. Norris noted that this exclusive agreement is the first step in executing a new strategic plan for the company to exit the industrial services industry in the immediate future. U.S. Industrial Services, Inc. has in recent months sold its wholly-owned subsidiaries, J. L. Manta and P.W. Stephens -- Huntington Beach. The company will have further announcements in the immediate future about the specific direction it will be taking in the multi-faceted insurance industry.
SOURCE: U.S. Industrial Services, Inc.
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