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Actionable news in IESC: Integrated Electrical Services, Inc.,

Integrated Electrical Services, Inc

The following excerpt is from the company's SEC filing.

713-860-1500

FOR IMMEDIATE RELEASE

INTEGRATED ELECTRICAL SERVICES ANNOUNCES DISPOSITION OF NON-CORE OPERATION

HOUSTON April 15, 2016 Integrated Electrical Services, Inc. (or IES) (NASDAQ: IESC) today announced the sale of substantially all of the operating assets of its wholly-owned subsidiary HK Engine Components, LLC (HKEC), a Hagerstown, MD-based manufacturer and remanufacturer of EMD-style power assemblies for various engine types used in the railroad and marine markets, to an entity controlled by Steven L. Beal, an affiliate of National Railway Equipment Co. (NRE). The sale, w hich closed on April 15, 2016, is not expected to have a material impact on the Companys financial position or results of operations.

Mike Rice, President of IESs Infrastructure Solutions segment, stated, As part of our strategic planning process and in light of the significant downturn affecting the rail industry, we determined that HKEC was no longer a core asset of IES. We were fortunate to find a strong strategic acquirer of HKEC in Steven Beal and NRE, a leading provider of new and remanufactured locomotives and components for sale or lease. We also look forward to further developing the relationship between IES Infrastructure Solutions electric motor repair and remanufacturing business and NRE.

ABOUT INTEGRATED ELECTRICAL SERVICES, INC.

IES is a holding company that owns and manages diverse operating subsidiaries, comprised of providers of industrial infrastructure services to a variety of end markets. Our over 3,100 employees serve clients in the United States and abroad. For more information about IES, please visit

www.ies-co.com

ABOUT IES INFRASTRUCTURE SOLUTIONS

IESs Infrastructure Solutions segment provides industrial and rail services, including electric motor repair and rebuilding; repair and manufacturing of...


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