TMS Int'l (TMS) Gets $290M in New Mill Services Contracts
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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 three new mill services contracts totaling more than $290 million in revenue over the life of the contracts at expected production levels.
The terms of the contracts vary between seven and nine years and are for a variety of outsourced services at steel mills in Genk, Belgium, Vanderbijlpark, South Africa, and Saldanha, South Africa. These contract wins further expand TMS International's relationship with a leading global steel producer and continues the company's expansion in faster growing international markets.
In Genk, Belgium, the company has contracted to provide services including stainless slag removal, transportation, processing and metal recovery. This contract expands the company's presence in Belgium with an existing customer and represents its first contract win at a location it previously has not served.
Additionally, in South Africa, TMS International has won contracts at two locations it previously has not served and is contracted to commence services through its joint venture entity Tube City IMS South Africa (Proprietary) Limited. These two contract wins are with a leading global steel producer and mark the company's first mill services operations in the fast-growing South African region. Services under the contract in Vanderbijlpark include slag removal, transportation and handling, metal recovery, and scrap and slag processing. In Saldanha, services include iron ladle transportation, scrap and slag handling and transportation, metal recovery, and scrap and slag processing.
Services under all three contracts are scheduled to begin January 1, 2012, and are expected to reach projected capacities by June 2012.
The terms of the contracts vary between seven and nine years and are for a variety of outsourced services at steel mills in Genk, Belgium, Vanderbijlpark, South Africa, and Saldanha, South Africa. These contract wins further expand TMS International's relationship with a leading global steel producer and continues the company's expansion in faster growing international markets.
In Genk, Belgium, the company has contracted to provide services including stainless slag removal, transportation, processing and metal recovery. This contract expands the company's presence in Belgium with an existing customer and represents its first contract win at a location it previously has not served.
Additionally, in South Africa, TMS International has won contracts at two locations it previously has not served and is contracted to commence services through its joint venture entity Tube City IMS South Africa (Proprietary) Limited. These two contract wins are with a leading global steel producer and mark the company's first mill services operations in the fast-growing South African region. Services under the contract in Vanderbijlpark include slag removal, transportation and handling, metal recovery, and scrap and slag processing. In Saldanha, services include iron ladle transportation, scrap and slag handling and transportation, metal recovery, and scrap and slag processing.
Services under all three contracts are scheduled to begin January 1, 2012, and are expected to reach projected capacities by June 2012.
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