I Michael Coslov, Tube City IMS, LLC's Chairman & CEO to Retire

PITTSBURGH, July 24 /PRNewswire/ -- Tube City IMS, LLC, a provider of products and services to steel mills and foundries globally, today announced that I Michael Coslov, Chairman and CEO, is retiring after more than 48 years with the Company.

Mr. Coslov, 67, will remain as CEO while the Company's Board of Directors conducts a search for a replacement. Thereafter he will remain on the Board of Directors as Non-Executive Chairman.

"I will miss my day-to-day involvement with Tube City IMS a great deal, but what I'll miss the most are the relationships with all of our customers and our teammates," Mr. Coslov said. "It's been a great ride for the past 48 years, but it's time to move on to a new chapter in my life. I look forward to a greater emphasis on family and community while remaining involved with Tube City IMS through the Board."

Mr. Coslov, who began his long career with the Company in 1965, has strategically transformed the organization from a $60 million a year scrap processor to a $3 billion provider of high quality, value-added outsourced steel services.

Born in McKeesport, Pa., Mr. Coslov attended Massanutten Academy in Woodstock, Va., and graduated from Duquesne University in Pittsburgh, Pa., with a bachelor's degree in Business Administration. He has been selected as a member of the university's Century Club.

He was an active member of the Young Presidents' Organization, serving as Senior Vice President, Education, for the national organization as well as Chairman of the Philadelphia Chapter. He is a member of the World Presidents' Organization. He also serves on the Board of Directors of the Franklin Institute, SEPA Red Cross, BDP International, Boys Latin Charter School and the Board of the Hospital of the University of Pennsylvania.

Mr. Coslov is highly regarded in the outsourced steel services industry and has held various leadership positions with the Institute of Scrap Recycling Industries, Inc., including two terms as an elected board member as well as Chairman of the Domestic Trade and the Convention Committees.

He has been honored as Businessman of the Year by the Crohn's and Colitis Foundation. In 2006, he was named Entrepreneur of the Year in the Industrial Products and Services category by Ernst & Young's Upstate New York/Western Pennsylvania division.

Mr. Coslov resides in Haverford, Pa., with his wife, Debbie.

Certain information discussed in this news release contains forward-looking statements with respect to our financial condition, results of operations or business or our expectations or beliefs concerning future events. Such forward-looking statements may include the discussions of Tube City IMS' business strategies, estimates of future global steel production and other market metrics and our expectations concerning future operations, margins, profitability, liquidity and capital resources. Although Tube City IMS believes that such forward-looking statements are reasonable, we cannot assure you that any forward-looking statements will prove to be correct. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different.

Additional information relating to factors that may cause actual results to differ from our forward-looking statements can be found in our Quarterly Report and our Registration Statement on Form S-4. Tube City IMS undertakes no obligation to update or revise forward-looking statements except as required by law.

Tube City IMS, LLC is a leading provider of outsourced steel services, including raw materials procurement, scrap management, raw materials optimization, slag processing, metal recovery and surface conditioning to integrated steel mills, mini-mills and foundries. The Company, headquartered in Glassport, Pa., has operations at 75 plants throughout the United States, Canada, Europe, Mexico, the Caribbean, South America and Asia. More information about Tube City IMS is available at the Company's website, www.tubecityims.com.

SOURCE Tube City IMS, LLC

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