- New Illinois freight brokerage service offering will support organic growth in 2021
- Chicago brokerage office marks opening of Titanium’s third US location in less than two years, following Charlotte in May 2019, and Nashville in July 2020
- On track to expand operations to five US locations within three years of launching Titanium American Logistics
BOLTON, Ontario, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Titanium Transportation Group Inc. (“Titanium” or the “Company”) (TSX VENTURE:TTR) is pleased to announce that it has commenced commercial operations at its third US Freight Brokerage office in Chicago, IL. The Chicago location is a vital addition to Titanium’s strategic plan to expand into the substantial US Freight Brokerage industry.
"As we look to accelerate our growth and expand our footprint in the US freight brokerage business, Chicago is an obvious choice that offers a tremendous opportunity given its position as a top hub for freight transportation in the United States," said Ted Daniel, Titanium's President and CEO. "Over the last two years, we have seen strong performance from our operations in Charlotte and Nashville. With the start of commercial operations in Chicago, we are well positioned to execute on our asset-light expansion strategy, increase our market share and add to our growth in 2021."
Daniel added, "Despite pandemic challenges, we are on track to exceed our goal of opening five locations within three years of launching Titanium American Logistics."
Global Access Through Illinois
Illinois is a key US logistics hub with approximately 25% of all U.S. freight traffic passing through it.(1) The state offers access to North American and global markets through a vast network of road (the third largest highway system In the United States), rail (seven Class I railways), and is the world's third largest intermodal port. As well, there are five international airports in the state.
1. https://intersectillinois.org/global-powerhouse/transportation-infrastructure/
About Titanium
Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 800 power units, 3,000 trailers and 1,100 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. In February 2021, Titanium completed its strategic acquisition of International Truckload Services Group, establishing Titanium among the top 12 largest Canadian transportation companies. The acquisition is expected to deliver an immediate and significant increase in revenue and EBITDA. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed eleven (11) asset-based trucking acquisitions since 2011. Titanium has also been ranked by Canadian Business (formerly PROFIT magazine) as one of Canada's Fastest Growing Companies for twelve (12) 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, and may 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 including Titanium’s organic earnings growth and its plans for future locations in the U.S., which may vary materially from expectations. 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.
CONTACT INFORMATION
Titanium Transportation Group Inc.
Ted Daniel, CPA, CA
Chief Executive Officer
(905) 266-3011
investors@ttgi.com
www.ttgi.com