Titanium Transportation Group Achieves 14% Driver Growth and Industry Leading Low Turnover in 2018
BOLTON, Ontario, Feb. 06, 2019 (GLOBE NEWSWIRE) — Titanium Transportation Group Inc. (“Titanium” or the “Company”) (TSX VENTURE:TTR) is pleased to announce that as at December 31, 2018, the Company saw its driver base increase by 14%. The Company also posted an impressively low driver turnover rate of 18.6%, putting the Company amongst the best in class in the industry. By comparison, the latest data from the American Trucking Associations put the driver turnover rate for truckload carriers at over 90%. Titanium achieved this strong growth and low turnover by focusing on hiring quality drivers, establishing a culture of safety and offering attractive retention and recognition programs, including a share purchase plan, to ensure job satisfaction. Titanium has continued to successfully recruit drivers at a consistent rate into 2019.
“We are extremely proud of our reliable, safe and hardworking driver group,” said Ted Daniel, CEO of Titanium. “While the industry continues to experience high turnover, Titanium continues to attract and retain the best drivers in the industry. We have maintained our leadership position with attractive pay packages and a one of a kind share purchase plan to ensure the highest level of job satisfaction because we understand drivers have to make a choice.”
Mr. Daniel concluded, “Titanium continues to be a carrier of choice for drivers. This enables us to deliver premium customer service across our business. As a result, we continue to see significant opportunity for strong organic growth in the Trucking segment into 2019.”
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. 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