Company Further Strengthens Management Team in Anticipation of Upcoming Acquisition of USAD Detergents
Sep 28, 2007
Titan Global Holdings, Inc. ("Titan") (OTCBB: TTGL), a high growth diversified holding company, announced today that veteran executive Frank J. Orlando has been appointed as President and Chief Executive Officer of USA Detergents (USAD), which leverages brand extensions and licensing agreements with consumer product conglomerates. The appointment of Mr. Orlando was announced in anticipation of the Company's completed acquisition of USAD expected to take place this week.
Titan recently appointed Mr. Orlando as the Chief Restructuring Officer of USAD. Over the last sixty days, Mr. Orlando has managed USAD's operations and has identified significant business development opportunities. He has also been instrumental in the reorganization of USAD's financings, operations and strategic direction. Upon Titan's acquisition of 80% of the outstanding stock of USAD, Mr. Orlando will become its President and Chief Executive Officer.
"I am gratified by the support and confidence Bryan Chance, Scott Hensell, and Titan's entire Board have given me over the last two months," said Mr. Orlando. "In addition, I am delighted with the support USAD's existing management gave me and their commitment to building USAD in the years to come. As USAD's President and Chief Executive Officer, I will continue to work closely with Titan and USAD's management teams to exploit opportunities we have identified in the immediate future."
Today USAD distributes mixed truckloads of nationally-recognized laundry, cleaner and candle brands at attractive prices and in unique merchandising configurations. By leveraging brand extensions and licensing agreements with consumer product conglomerates, USAD's brands include Xtra, Arm & Hammer, Aim, Close-up, Pepsodent, Betty Crocker, Snapple, Fine Care, Brillo, Touch of Glass, Fabulous and Oxymax. Consistent with the distribution focus of Titan's other divisions, USAD's distribution footprint serves small and mid-sized retailers, wholesalers and distributors that serve Metropolitan areas in the U.S. and internationally.
"Frank and his team have done an exceptional job in putting USAD on the proper track," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "USAD's experience and portfolio of trusted brands and our expansive distribution network will be a formidable combination that will provide enhanced returns to our shareholders. USAD will be a tremendous addition to Titan Global Brands."
Mr. Orlando has served as Chief Restructuring Officer of Uphonia, Inc., a publicly traded company engaged in communications. He has also served Chief Restructuring Officer, Chief Financial Officer, Secretary and a Director of Headliners Entertainment Group, Inc., a publicly traded company engaged in entertainment management.
Titan Global Brands
Titan recently announced the formation of Titan Global Brands to integrate, protect and expand brand management capabilities and to leverage and optimize growth from the Company's distribution channels. Through its diverse family of subsidiaries, Titan owns or manages more than 100 trusted brands that are distributed through efficient, overlapping and expansive distribution channels. Titan's distribution channels reach over 65,000 retail locations throughout the United States and in over 200 countries around the world.
About USA Detergents
USAD distributes nationally-recognized laundry, cleaner and candle brands at attractive prices and in unique merchandising configurations. By leveraging brand extensions and licensing agreements with consumer product conglomerates, USAD's brands include Xtra, Arm & Hammer, Aim, Close-up, Pepsodent, Betty Crocker, Pillsbury, Snapple, Fine Care, Brillo, Touch of Glass, Fabulous and Oxymax. Consistent with the distribution focus of Titan's other divisions, USAD's distribution footprint serves small and mid-sized retailers, wholesalers and distributors that serve metropolitan areas in the U.S. and internationally.
USAD manufactures its products at a plant of 206,000 square feet in Hillside, New Jersey. USAD distributes its products from a 175,000 square foot warehouse in North Brunswick, New Jersey. Its corporate headquarters is in offices of 10,000 square feet in North Brunswick, New Jersey. USAD currently has over 70 employees in its operations in New Jersey.
About Titan Global Holdings
Titan Global Holdings, Inc. is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy. In its last fiscal year Titan generated in excess of $109 million in revenues on a consolidated basis.
Titan's Oblio Telecom Inc. ("Oblio") telecommunications subsidiary, based in Richardson, Texas, is a market leader in prepaid telecommunications products and the second largest publicly-owned international telecommunications company focused on the prepaid space. Oblio leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3 to supply its brand-name prepaid calling cards. Annually Oblio sells an estimated 35 million of its brand-name prepaid calling cards through its established distribution channels estimated at more than 60,000 retail outlets.
Titan Wireless, Inc. ("T Wireless") is Titan's wireless subsidiary and is a mobile virtual network operator ("MVNO"). T Wireless sells its MVNO prepaid wireless products and wireless services through Oblio's established distribution channels. Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide commercial production runs and quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and high-tech clients.
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Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
