Titanium Transportation Group Inc.
TSX VENTURE : TTR

Titanium Transportation Group Inc.

July 28, 2015 07:00 ET

Titanium Transportation Group Provides Muskoka Transport Integration Update

WOODBRIDGE, ONTARIO--(Marketwired - July 28, 2015) - Titanium Transportation Group Inc. ("Titanium" or the "Company") (TSX VENTURE:TTR) is pleased to provide an operational update regarding the integration of Muskoka Transport Limited ("Muskoka").

Titanium completed the acquisition of Muskoka on March 1, 2015. Titanium's use of leading edge customized technology has allowed for the rapid integration of Muskoka and the extraction of significant cost saving and synergies. These changes are expected to result in Titanium more than doubling Muskoka's 4% EBITDA margin to a run rate in the second half of 2015 in-line with Titanium's existing truckload operations.

The following highlights operational improvements as a result of the Muskoka integration:

  • Modernized and integrated IT infrastructure including satellite and equipment monitoring, software customization and dispatch optimization
  • Outsourced maintenance facilities to Volvo effective June 1st, 2015
  • Increased revenue per mile due to improved utilization and customer synergies
  • Eliminated factoring costs effective August 1st, 2015 and reduced interest costs through Titanium's access to low cost financing
  • Increased sales with an existing Fortune 500 customer
  • Consolidated head office and regional offices
  • Replaced aging equipment including 30 trucks with new Volvo VNL 670's and more than 30 flatbed trailers

Mr. Ted Daniel, CEO of Titanium commented: "Our leading edge customized technology has allowed us to rapidly integrate Muskoka and implement the necessary changes to bring EBITDA margins in-line with the rest of our truckload division. Muskoka is now essentially fully integrated and we are actively pursuing additional acquisitions."

About Titanium

Titanium is a leading asset-based transportation and logistics company servicing Canada and the United States, with 350 power units, approximately 1,100 trailers and approximately 400 employees and independent owner operators. Titanium provides truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 800 customers. Titanium is a recognized consolidator of asset-based transportation companies in Ontario, having completed seven asset-based trucking acquisitions since 2011. Titanium has also been ranked by PROFIT magazine as one of Canada's Fastest Growing Companies for six 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. Particularly, statements regarding the use of proceeds as well as the future results, 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