TMS International Corp. Announces Contracts Totaling More Than $84 Million
TMS International Corp. (NYSE: TMS), the parent company of Tube City IMS Corporation, a provider of outsourced industrial services to steel mills globally, today announced that it has secured new contracts totaling more than $84 million in revenue over the life of the contracts at expected production levels. The long-term contracts are for a variety of outsourced services at steel mills in Dunkerque, France, and Abu Dhabi, United Arab Emirates.
Services under the new seven-year oxycutting contract in Dunkerque, which began July 1, 2011, include handling, preparation and sizing of revert scrap, utilizing Tube City IMS' environmentally friendly New Cut process, where scrap is processed to charging size in an enclosed environment to capture emissions from the cutting operation. This is the second new mill services contract that the Company has implemented at the customer mill site in Dunkerque this year.
