Brief: Titanium Transportation Group Expands North American Footprint With First US Based Asset Acquisition

Titanium Transportation (Canada)

31/07/2023 12:18

July 31 (Reuters) - Titanium Transportation Group Inc
 TTNM.TO :
    * TITANIUM TRANSPORTATION GROUP EXPANDS NORTH AMERICAN
FOOTPRINT
WITH FIRST U.S. BASED ASSET ACQUISITION
    * TITANIUM TRANSPORTATION GROUP-  ACQUIRED ASSETS, EQUIPMENT
OF
CRANE TRANSPORT OF OAKWOOD, GA, FOR A TOTAL CONSIDERATION OF
US$53 MILLION
    * TITANIUM TRANSPORTATION GROUP - ALSO PURCHASED ALL REAL
ESTATE
RELATED TO CRANE'S OPERATIONS FOR AN ADDITIONAL CONSIDERATION OF
US$6 MILLION
    * TITANIUM TRANSPORTATION GROUP INC - HAS FUNDS TO CLOSE
TRANSACTION AND DOES NOT REQUIRE ADDITIONAL FINANCING
    * TITANIUM TRANSPORTATION GROUP - DEAL EXPECTED TO BE
ACCRETIVE
AFTER INTEGRATION, MANAGEMENT EXPECTS TO BE COMPLETED IN ABOUT
12 MONTHS
    * TITANIUM TRANSPORTATION GROUP- CONSOLIDATED FY REVENUE IS
EXPECTED TO BE BETWEEN $450 TO $470 MILLION
    * TITANIUM TRANSPORTATION GROUP INC - SEES FY ADJUSTED
EBITDA
MARGIN: 10.5% TO 12.5%

Source text for Eikon:  ID:nGNXQQdv4 
Further company coverage:  TTNM.TO 

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