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TMS Announces New Contracts in Dunkerque, Abu Dhabi
07/11/2011 - Tube City IMS has secured new contracts for outsourced services at steel mills in Dunkerque, France, and Abu Dhabi, United Arab Emirates.
Tube City IMS Corp. has secured new contracts for a variety of outsourced services at steel mills in Dunkerque, France, and Abu Dhabi, United Arab Emirates. At expected production levels, the long-term contracts total more than $84 million in revenue over the life of the contracts.
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 this Dunkerque facility this year.
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. Services under the contract, which are scheduled to begin September 1, 2011, 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, Chief Operating Officer, and 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.
Kalouche added, “This is an exciting time for the company. Including these contracts, we have won a total of six new contracts to date in 2011, representing more than $147 million of cumulative revenue. As the outsourced steel services market continues to expand globally, TMS is well positioned to service these new markets with a diverse team that has significant international experience and delivers the outstanding performance that our customers and shareholders expect.”
TMS International Corp., through its subsidiaries, including Tube City IMS Corp., 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 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.
