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Corporate Resource Services has Completed its Acquisition of Tri-Diamond Staffing Inc.

Corporate Resource Services has Completed its Acquisition of Tri-Diamond Staffing Inc.
 
Corporate Resource Services, Inc the US national provider of temporary and permanent staffing services, completed its previously announced acquisition of Tri-Diamond Staffing Inc. from an affiliate of Tri-State Employment Services, Inc on January 31, 2011. Tri-Diamond Staffing, which following the consummation of the acquisition will be known as Diamond Staffing Services, Inc., is in the business of providing temporary and permanent employment staffing services and related support services principally to clients in light industrial businesses. The purchase price is approximately $25 million which was paid through the issuance of 29,411,765 shares of the Company's common stock.
 
Tri-Diamond Staffing had sales of approximately $77 million for the nine-month period ended September 30, 2010, with approximately $1.8 million in pre-tax income for the same period. The company has 23 offices throughout the United States.
 
We are pleased by the addition of Diamond Staffing Services, said Jay H. Schecter, Chief Executive Officer of the Company. Mr. Schecter continued, This acquisition will only serve to strengthen the business of Corporate Resource Services.

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