Titanium Seeing Improvements in Muskoka Since Purchase
WOODBRIDGE, ON.–The trucking holding company Titanium Transportation Group Inc. said on Tuesday since it closed on its purchase of Muskoka Transport earlier this year it expects to double the company’s operating profitability in the second half of the year so its in-line with its other truckload operations.
The reason it said is its use of “leading edge customized technology has allowed for the rapid integration of Muskoka and the extraction of significant cost saving and synergies.”
Titanium closed on its purchase of Muskoka on March 1. Terms of the deal were not released.
Also since the deal closed Titanium said it has made other significant changes at Muskoka:
- Modernized and integrated information technology infrastructure including satellite and equipment monitoring, software customization and dispatch optimization
- Outsourced maintenance facilities to Volvo effective as of June 1
- Increased revenue per mile due to improved utilization and customer synergies
- Eliminated factoring costs effective beginning Aug. 1 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 670s and more than 30 flatbed trailers
“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,” said Mr. Ted Daniel, CEO of Titanium. “Muskoka is now essentially fully integrated and we are actively pursuing additional acquisitions.”
Titanium is an asset-based transportation and logistics company servicing Canada and the U.S., with 350 power units, approximately 1,100 trailers and approximately 400 employees and independent owner operators, providing truckload, dedicated, and cross-border trucking services, freight logistics, and warehousing and distribution to over 800 customers.
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