BOLTON, Ontario, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX VENTURE:TTR) today announced its Logistics division achieved record monthly sales of over $5.5 million, unaudited, in January 2018, reflecting the impact of sales, operational, and technology initiatives implemented to deliver excellent service to meet increasing customer demand.
“Our Logistics division’s record sales were driven by strong customer demand for our services and an improving pricing environment,” said Ted Daniel, President and CEO of Titanium. “Looking ahead to 2018 and beyond, our custom-built technology and our excellent sales and dispatch team gives us a customer service advantage over our competitors that will drive continued future growth.”
“The significant progress in building our sales team and infrastructure since moving into our new head office has translated to excellent results,” said Doug Billau, VP of Logistics. “The ongoing development of our innovative technology solutions will allow us to continue meeting the increased demands of our customers at a time when trucking capacity is increasingly scarce.”
Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 450 power units, 1,500 trailers and 550 employees and independent owner operators. Titanium provides truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 1,000 customers. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed ten asset-based trucking acquisitions since 2011. Titanium has also been ranked by PROFIT magazine as one of Canada's Fastest Growing Companies for nine consecutive years.
Cautionary statement regarding forward-looking statements
Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking statements are provided for the purposes of assisting the reader in understanding Titanium's current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information may relate to Titanium's future outlook and anticipated events, including pro-forma and future financial performance of the Company’s Logistics division and may also include statements regarding the financial position, business strategy, budgets, litigation, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Titanium. Particularly, statements regarding future acquisitions, the availability of credit, performance, achievements, prospects or opportunities for Titanium or the industry in which it operates are forward-looking statements. In some cases, forward-looking information can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.
Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.
The forward-looking statements made in this press release are dated, and relate only to events or information, as of the date of this press release. Except as specifically required by law, Titanium undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Titanium Transportation Group Inc.
Kasia Malz, CPA, CA
Chief Financial Officer