PITTSBURGH TMS International Corp. has secured new overseas contracts with steel mills in Poland, Belgium and the United States as well as entered into a joint venture in Malaysia.
The terms of the contracts and the new joint venturewhich will contribute more than $266 million in revenue over the life of the dealsare for a variety of outsourced services, TMS, the parent of Tube City IMS Corp., said in a release.
TMS expects to begin phase-in services at the mill in Poland in March and be fully operational there by the second quarter of 2014. It will oversee the transportation, processing and sale of slag as well as handle the mills scrap metal from receiving through delivery to charge buckets. In March, TMS will also begin to recover iron units from an existing slag pile at the mill.
Its push into Poland is aimed at expanding TMS global presence.
This new contract win in Poland further expands and solidifies TMSs relationship with a leading global steel producer, president and chief executive officer Raymond Kalouche said. We will build on these successes by continuing to expand into new markets.
The contracts with mills in Belgium and the United States will expand its presence in both countries through existing customers, the Pittsburg-based company said.
TMS has also purchased a noncontrolling interest in a joint venture to provide mill services to a Malaysian steelmaker. The partnership will process and resell slag generated at the operation.