Pittsburgh-based TMS International Corp, through its subsidiary Tube City IMS Corporation, has won its first contract in the Middle East and has also announced a further expansion in France.
A leading provider of outsourced industrial services to steel mills around the world, Tube City IMS has secured new contracts worth over $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 this year at the customer mill site in Dunkerque.
In Abu Dhabi, the company has contracted to commence a seven-year material handling and waste management agreement with a new customer through its joint venture entity Tube City IMS Middle East Holding.
This contract win with a leading regional steel company marks the company's first mill services operation in the fast-growing Middle East/North African region. Services under the contract are scheduled to begin September 1, 2011, and will include material handling, hot pit furnace slag excavation, metal reclamation, scrap management, DRI handling, billet transportation and logistics, and a number of other auxiliary services.
"We believe the steel industry in the Middle East/North African region will continue to grow at strong rates over the coming years,” said Raymond Kalouche, president and COO, Mill Services Group. “These new contract wins demonstrate the company's global breadth and depth, and illustrate the continuing confidence our customers place in us and our outstanding service. We are excited to be able to serve both of these important customers in these regions.
TMS International Corp., through its subsidiaries, including Tube City IMS Corporation, is the largest provider by revenue of outsourced industrial services to steel mills in North America and has a substantial and growing international presence. The company provides services at 78 customer sites in 10 countries and operates a global raw materials procurement network with 26 offices in 11 countries spanning five continents.
