Steel mill services provider wins contracts in MENA

TMS International has secured new contracts totaling more than US$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.

Additionally, 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. 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," said Raymond Kalouche, Chief Operating Officer, and President and COO, Mill Services Group.

Mr. 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."