BOLTON, Ontario, March 27, 2019 (GLOBE NEWSWIRE) --
- Titanium Transportation Group Inc. (“Titanium” or the “Company”) (TSX VENTURE:TTR) is proud to announce that it has secured a strategic office location in Charlotte, NC where they will commence the Company’s U.S. brokerage services business;
- The Company expects to secure additional key locations throughout the U.S. to further expand this initiative over time; and
- This new initiative will be led by a team with substantial expertise in the U.S. brokerage and logistics industry.
“Today’s announcement is a product of our commitment to organic growth and efforts to invest in and develop opportunities across the Company in Canada and the U.S.,” said Ted Daniel, President and CEO, Titanium Transportation Group. “Over the past several years we have made purposeful investments in infrastructure, technology and staff to build a scalable business that supports opportunities such as this one with minimal added overhead.”
The Charlotte office is expected to be the first of several select strategic locations that Titanium plans to establish over the coming years to better serve the robust US market. To support these operations, Titanium has established a separate US subsidiary - Titanium American Logistics, Inc. The Company has also recruited operations personnel with considerable expertise in the U.S. brokerage services and logistics industry.
“Brokerage Services is an attractive and asset light business in which we have demonstrated great success in supporting our clients on both sides of the border for nearly two decades. Our current business includes roughly two thirds of our freight volumes originating with US based clients, so this is a natural progression and expansion for the Company,” said Mr. Daniel. “We expect the operations to contribute positively to our organic earnings growth over the near-term and continue to build with the addition of future offices.”
About Titanium
Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with approximately 475 power units, 1,400 trailers and 600 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 Growth 500 as one of Canada's Fastest-Growing Companies for ten 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