PITTSBURGH, May 17, 2011 /PRNewswire/ -- TMS International Corp.(NYSE: TMS), the parent company of Tube City IMS Corporation, a leading provider of products and services to steel mills globally, today announced it expects to achieve full year 2011 Adjusted EBITDA in a range of $133 million to $137 million, representing a year-over-year growth rate of 11% to 14%. This guidance excludes a charge of approximately $1.3 million the Company expects to take in its second quarter for issuance and vesting of certain incentive shares related to its initial public offering.
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Joseph Curtin, President and Chief Executive Officer of TMS International Corp. said, "We are pleased with our operational performance to date and believe we are well positioned to continue producing strong results. Our EBITDA guidance range reflects our confidence that the industry will continue to see steady improvement and that we will continue to successfully execute our global growth strategy."
About TMS International Corp.
TMS International Corp., through its subsidiaries, including Tube City IMS Corporation, 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 74 customer sites in nine countries and operates a global raw materials procurement network spanning five continents.
Certain information in this news release contains forward-looking statements with respect to the Company's financial condition, results of operations or business or its expectations or beliefs concerning future events. Such forward-looking statements include the discussions of the Company's business strategies, estimates of future global steel production and other market metrics and the Company's expectations concerning future operations, margins, profitability, liquidity and capital resources. Although the Company believes that such forward-looking statements are reasonable, it cannot assure you that any forward-looking statements will prove to be correct. Such forward-looking statements involve risks, uncertainties, estimates and assumptions that may cause the Company's actual results, performance or achievements to be materially different.
Additional information relating to factors that may cause actual results to differ from the Company's forward-looking statements can be found in the Company's Registration Statement on Form S-1. The Company undertakes no obligation to update or revise forward-looking statements after the day of the release as a result of new information, future events or developments except as required by law.
SOURCE TMS International Corp.