EDMONTON, ALBERTA--(Marketwired - Dec. 16, 2013) - Titan Logix Corp., (TSX VENTURE:TLA) ("Titan" or the "Company"), an advanced technology industrial instrumentation and controls company announces that it has signed an agreement with UK based MechTronic Limited to be the sole distributor of its advanced refined fuels gauging system for North, Central, and South America. One of Titan's top priorities is continued innovation and establishing partnerships to increase revenue through diversification into new markets. The MechTronic gauge complements Titan's TD80™ and Stik™ suite of product offerings to further expand Titan's position as the leading gauge supplier to the tank truck and trailer industry.
The MechTronic gauge is designed for fleet fueling and fuel transport applications. It provides dispatchers and drivers high accuracy level/volume measurement, together with density calculation that will enable more cost effective inventory management and help prevent cross- contamination. These benefits are provided while enhancing operator safety during the loading and unloading process. The product will be sold in various configurations - as a stand-alone solution, integrated with Titan's other products, or integrated into 3rd party on-board-computer (OBC) systems.
"I am excited about this opportunity with MechTronic," said Titan President and CEO, Greg McGillis. "This agreement enables Titan to advance into the refined fuels market, which has an even larger market potential than the crude oil market we currently serve. I look forward to working with the MechTronic team."
MechTronic was founded in 2004 and has established itself as a market leader with a reputation for providing inventive product solutions that are easy to operate. MechTronic is headquartered in Leeds, UK. Their products have been widely accepted throughout Europe.
"We are looking forward to the relationship with Titan," said Trevor Poulter, Director at MechTronic. "There is an excellent fit for our gauge alongside their products. Titan's strong reputation in the industry, and our reputation for developing solid products, is a natural pairing."
Titan's Business Development Manager, John O'Connell, will lead the pre-launch. He will work with industry-leading suppliers and end users to bring the benefits of this advanced product to their operations. Full launch is expected to commence mid-way through 2014.
About Titan Logix Corp.:
Founded in 1979, Titan Logix Corp. ("Titan" or "the Company") is a high technology company specializing in Research and Development (R&D), manufacturing and marketing of advanced technology fluid management solutions. The Company's products include Guided Wave Radar (GWR) gauges for level measurement and overfill prevention (particularly for use in mobile tanker applications), level gauges for storage tanks, burner management for oilfield heaters, and communication systems for remote alarming and control. The products are currently used in the oil and gas, waste fluid collection, chemical and aviation industries. These technologies and their derivatives under development are applicable to a variety of additional markets which Titan plans to expand into at the appropriate time. A common practice in many of these markets is the use of manual methods for measurement and control. Due to safety considerations, the rising cost of many fluids, awareness and concerns about the environment and technological advancements enabling better operational efficiencies, we are experiencing an increased demand for our advanced technology products. We anticipate this demand will continue as we pursue expansion into other markets.
The products we manufacture are part of a complete asset management solution. The full solution consists of our own market leading products integrated with best-in-class third party solutions to enable our customers to benefit from complete fluid management, throughout each stage of their fluid handling processes. This is captured by our slogan "Advanced Technology Fluid Management Solutions, In the Field, On the Road, In the Office"™.
- In the Field: "In the Field" refers to Titan's solution offerings for storage tanks and process vessels.
- On the Road: "On the Road" refers to Titan's solution offerings for mobile tanker trucks and trailers.
- In the Office: "In the Office" refers to Titan's solution offerings that enable customers to monitor their fluid assets from the convenience of their dispatch center or other back office environment through a wired or wireless connection.
Titan Logix Corp. is a public company listed on the Toronto Venture Stock Exchange and its shares trade under the symbol, TLA.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements with information that may be forward-looking and subject to unknown risks and uncertainties. The actual results, performance and achievements of Titan Logix Corp. may differ materially from the results, performance and achievements expressed or implied by such forward-looking statements. These forward-looking statements may not relate strictly to historical or current facts. They represent management's views as of the date of this press release and we assume no obligation to update them. We caution you not to place undue reliance on these forward-looking statements.