A strategic realignment will help Pittsburgh-based TMS International Corporation deliver on growth and capital deployment while creating more value for customers and stakeholders, officials with the company said.
The company announced it will shift to three dynamic business segments – the Performance Materials Group, the Industrial Mill Services Group, and the Specialty Services Group. The updated reporting structure will position the company to outperform in any environment, the company said.
“This realignment is grounded in a robust assessment of customer needs and market dynamics. A change in business behavior, new competition, evolving industry trends and economic factors necessitated realigning our operations and strategies to remain relevant and competitive in today’s ever-changing market,” Joel Hawthorne, president and CEO of TMS International, said. “Our strategy is to create an organization structure that is more agile, efficient and strategically aligned to successfully navigate the complexities of the business environment and achieve our long-term goals. We are building a company that is not just innovative, but commercially viable for the long term. One that serves customers today with clarity and delivers stakeholder value through prudent growth.”
Hawthorne said the Performance Materials Group will handle raw material procurement and logistics, as well as proprietary, software-based raw material cost optimization, graphite electrode procurement and logistics; zinc metal, ferroalloy, cement, and scrap yards and offsite locations serving the metals and mining industries. The Industrial Mill Services Group would be responsible for scrap management and preparation; metal recovery and slag processing and sales; surface conditioning; and finished material handling at on-site locations serving the metals industry. The Specialty Services Group (SSG) would cover transportation and logistics, container management, environmental recycling; emergency response and field service primarily serving the chemical, oil and gas, titanium and specialty metals industries.
TMS International is one of the largest providers of outsourced environmental and industrial services in the world. The company has handled environmental responsibility through recycling, maintaining energy-efficient operations and processing co-products for beneficial reuse as well as designing programs to reduce greenhouse emissions since 1926.