TMS International Corp. Expands Operation In Taiwan
PITTSBURGH, Feb. 29, 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, announced today that it has expanded its scrap yard operation in Taichung, Taiwan, which commenced in early 2011, to accommodate growth in its raw materials segment.
The company's Taichung operation sources, imports, processes and distributes raw materials to Taiwanese steel mills. The relocated and enhanced scrap yard has almost double the production capacity and enables the company to meet increasing demand for steel making raw materials in the region.
The new yard location remains strategically placed near Taiwanese steel mills and complements the company's network of existing procurement operations in China, Indonesia, Vietnam, Taiwan and Singapore."With the increased demand it became clear that we would need to expand our yard operation. Our business continues to grow in the Taiwan region due to the quality and effectiveness of our team," said J. David Aronson, President and COO, Raw Material and Optimization Group. "This expansion strengthens our role and relationships with our customers and ensures we will continue to provide necessary raw materials on a cost effective and on time delivery basis to them. This growth represents further evidence of our increasing global reach and presence." 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts