PITTSBURGH, March 1, 2012 /PRNewswire/ -- TMS
International Corp. (NYSE: TMS), the parent company of Tube
City IMS Corporation, a leading provider of outsourced
industrial services to steel mills globally, today
announced that it has secured two new mill services
contracts totaling more than $179 million in revenue over
the life of the contracts at expected production levels.
Terms of the contracts vary between 10-15 years and are for
a variety of outsourced services with new customers at
steel mills in the United States and Mexico.
Both contracts are at greenfield sites and further expand
the company's leading presence in the United States,
where the company has on-site mill services operations in
57 of the United States' 115 steel producing mills, as
well as the rapidly expanding Latin America region.
Services under the new contract in Alabama include slag pot
transportation, metallic recovery, stainless slag
processing, aggregate marketing, revert cutting, melt shop
cleaning and other auxiliary services.
Additionally, in Mexico, the company has contracted to
commence a new agreement with a leading regional steel
company. Services under the contract include slag pot
transportation, metallic recovery, slag processing, melt
shop cleaning, tundish cutting and other auxiliary
services. This contract win with a new customer marks the
company's sixth operation in Latin America,
complementing its existing mill services operations in
Mexico, Trinidad, and its procurement office in Monterrey,
Services for both contracts are expected to begin in the
fourth quarter of 2012 and are anticipated to reach
projected capacities in 12-18 months.
"These new contracts reinforce the global scale of our
business and highlight our continuing success in meeting
the needs of growing markets. They also confirm the
continued confidence that the leading steel companies
around the globe have in our outstanding services, our
skilled workforce and our exceptional performance,"
said Raymond Kalouche, Chief Operating Officer, and
President and COO, Mill Services Group. "We are
delighted and honored to serve both of these important
customers. Our focus on safety and creating value for our
customers has allowed us to aggressively implement our
strategic global expansion effort and positioned us for
continuing growth this year and beyond."
About TMS International Corp.
TMS International Corp., through its subsidiaries,
including Tube City IMS Corporation, is the largest
provider of outsourced industrial services to steel mills
in North America as measured by revenue and has a
substantial and growing international presence. The
company provides mill services at 82 customer sites in 11
countries and operates 29 brokerage offices from which it
buys and sells raw materials across five continents.
Certain information in this news release contains
forward-looking statements with respect to the
company's financial condition, results of operations or
business or its expectations or beliefs concerning future
events. Such forward-looking statements include the
discussions of the company's business strategies,
estimates of future global steel production and other
market metrics and the company's expectations
concerning future operations, margins, profitability,
liquidity and capital resources. Although the company
believes that such forward-looking statements are
reasonable, it cannot assure you that any forward-looking
statements will prove to be correct. Such forward-looking
statements involve risks, uncertainties, estimates and
assumptions that may cause the company's actual
results, performance or achievements to be materially
different. Additional information relating to factors that
may cause actual results to differ from the company's
forward-looking statements can be found in the
company's Registration Statement on Form S-1. The
company undertakes no obligation to update or revise
forward-looking statements after the day of the release as
a result of new information, future events or developments
except as required by law.
SOURCE TMS International Corp.
For further information: Jim Leonard, Media Relations,
+1-412-267-5226, or Kelly Boyer, Investor Relations,