Company Solidifies Appco's Senior Management Team Following Recent Acquisition
October 25, 2007
Titan Global Holdings, Inc. (OTCBB:TTGL), a high-growth diversified holding company, today announced the appointment of Marty Anderson as Chief Executive Officer of Appalachian Oil Company ("Appco"), as well as the appointment of the energy division's entire senior management team.
Appco is the first acquisition of the Company's recently announced Titan Global Energy, which was formed to aggregate energy assets that can provide significant opportunities for revenue and earnings growth, such as the continued vertical integration of the supply chain, as well as future acquisitions to complement Appco's existing retail and wholesale distribution footprint.
Appco, formed in 1923 and based in Blountville, Tennessee, distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenience store locations. Appco has more than 550 employees and maintains longstanding partnerships with strategic terminal operators and major oil companies.
"Since joining Appco in 2001, Marty has been a driving force within the company," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "His leadership has been instrumental in growing Appco's Retail Division, managing key partner relationships and positioning Appco to be a leading petroleum distribution brand in the markets it serves. Marty has earned the respect of the over 550 employees of Appco and he is the ideal candidate to lead Appco through what we plan to be an unprecedented period growth."
Mr. Anderson will focus his efforts on continuing organic growth in existing markets as well as on expanding strategic partnerships and relationships to lead the Company's mission to increase the number of biofuels products. As well, he will pursue strategic acquisitions that will expand Appco's footprint and to vertically integrate its supply chain.
"It is an honor to take the reins of Appco from Jeff Benedict and Jim Maclean, two visionaries in petroleum distribution in the Southeast United States," said Marty Anderson, Chief Executive Officer of Appalachian Oil Company. "I am thrilled with the opportunities in front of Appco. We have an industry proven management team, an aggressive strategic vision, and the strategic and financial support of Titan and its equity partners. I couldn't be more excited."
Last week Titan issued updated revenue and earnings guidance for fiscal 2008. Titan Global Energy is expected to contribute $433 million to Titan's stated overall revenue guidance with a range of $735 to $747 Million for fiscal 2008.
Anderson joined Appco in 2001 where he served as Vice President of Marketing. He was named President of the Convenience Store Division in 2006 and was responsible for 56 company operated Convenience stores.
Mr. Chance was also pleased to announce the appointment of other vital members of the Appco senior management team, including:
Rick Jones as the President of Appco's Retail Division, which operates Appco's 56 convenience store locations. Mr. Jones is a 30 year veteran of the convenience store industry. In this role he was responsible for all operations in the convenience store division.
John Thomas, III as the President of the Sales and Marketing Division, which generates volume through wholesale contracts to supply fuel to over 160 dealer accounts in the Southeastern United States. Mr. Thomas is a former petroleum distributor who has more than 30 years' experience in wholesale fuel distribution.
Ernestine Clark will be Senior Vice President of Finance. Mrs. Clark has over 40 years' experience in the petroleum distribution market with Appco. Mrs. Clark's expertise includes finance, accounting, inventory control, federal and state tax reporting and information systems.
Debra Manis will be Senior Vice President of Finance. Mrs. Clark and Mrs. Manis will lead the Administration Division, which manages the accounting, human resources, and other administrative functions for the company. Mrs. Manis has over 22 years' experience in the petroleum distribution market with Appco.
"Appco's seasoned management team provides a tremendous foundation for Titan Global Energy Group and our expanded plans in this sector," said Bryan Chance. "I look forward to working with this dedicated group to enhance our shareholder value as we continue to generate positive returns and accelerate growth for our shareholders."
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through our nine wholly-owned subsidiaries, we take advantage of valuable synergies between our subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan's operating divisions include the following:
Titan's Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc. the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan's growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com.
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Forward-Looking Statements
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