TMS International, which provides outsourced industrial services to steel mills in North America, announced terms for its IPO on Thursday. The Glassport, PA-based company plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the mid-point of the proposed range, TMS International will command a market value of $555 million. TMS International, which was founded in 1926 and booked $2 billion in sales last year, plans to list on the NYSE under the symbol TMS. BofA Merrill Lynch, Credit Suisse and J.P. Morgan are the lead underwriters on the deal, which is expected to price during the week of March 21.
