This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

TMS International Corp. Announces New Contract Wins Totaling More Than $91 Million





PITTSBURGH, July 16, 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 new mill services contracts totaling more than $91 million in revenue over the lives of the contracts at expected production levels, with aggregate growth capital investments of approximately $13 million.

(Logo: http://photos.prnewswire.com/prnh/20110406/MM78984LOGO )

The terms of the contracts vary and include both add-on outsourced mill services with existing customers at steel mills in the UAE, France, Mexico, South Africa, and the United States, as well as various outsourced mill services for a new U.S. customer.

In the United States, TMS International won a mill services contract with a new customer in Tennessee and expanded its relationship with an existing customer in Alabama by cross selling a new service. Services under the new contract in Tennessee, which begin this quarter, include scrap and slag handling, slag sales and metal recovery. The new cross sold contract in Alabama, which is expected to begin in the first quarter of 2013, expands the company's slag processing metal recovery services currently in place, adding scrap receiving, inspection, handling and charge bucket loading.

In Monterrey and Monclova, Mexico, TMS International augmented its services with existing customers by cross selling additional internal transportation and logistics services for semi finished and finished products.  Similarly, in South Africa, the company cross sold the processing and metal reclamation of an existing large backlog of unprocessed slag.  This additional service will help the customer to reclaim metal units and to generate a clean "aggregate" product for various industrial applications.

In France and the UAE, the company expanded its services to increase the volume of handling and sorting of finished plate products and melt shop services.

"We are delighted to add a significant new customer to our client base and are very pleased to expand our business with existing customers. These contract wins demonstrate TMS International's ongoing commitment to creating value for our customers in all business environments and providing excellent service," said Raymond Kalouche, Chief Operating Officer, and President and COO, Mill Services Group. "As one of the leaders in our industry, our team continues to focus on safety, the environment and developing cost-effective solutions for our customers globally."

Year-to-date, TMS International has won a total of four new major contracts to provide mill services. These new contracts, together with various 2012 expansions of services under existing agreements, represent more than $270 million of cumulative total revenue over the life of the contracts at expected production levels, with aggregate growth capital investments of approximately $33 million.

 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7870 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs