24th Oct 2007 21:10
Titan Global Holdings, Inc. (Titan) (OTCBB:TTGL), a high-growthdiversified holding company, announced today that Appalachian OilCompany ("Appco"), a unit of Titan Global Energy, has affirmed amilestone agreement with leading international ethanol manufacturerTate & Lyle to supply significantly increased quantities of Ethanol atreduced price levels for calendar 2008. £ The agreement is a foundational achievement in Titan's strategicplan to source and distribute biofuels to address the fast-growingdemand for newer, more environmentally friendly fuel sources. As thenation increases its consumption of ethanol and other biofuels, Titanbelieves its supply agreement with Tate & Lyle will significantlyadvance the Company's efforts to establish secure sources of suchbiofuels and a higher margin product channel. £ Upon Titan's acquisition of Appco, Appco and Refuel America, Inc.("Refuel") completed a definitive biofuel supply agreement. Refuel'sproduct line includes domestic and internationally produced andenvironmentally friendly alternative fuels. Refuel's supply ofbiofuels to Appco will be complementary to those of Tate & Lyle. £ Titan recently formed Titan Energy to pursue the acquisition andmanagement of complementary energy sector assets. Appco, thedivision's first acquisition, is a Blountville, Tennessee-based energycompany that owns and operates an extensive petroleum productdistribution network. £ Tate & Lyle, based in London, is one of the world's leadingmanufacturers of renewable food and industrial ingredients, withapproximately $6 billion in annual revenues. £ This agreement is the latest execution of the strategic vision setforth by Titan Energy to expand its biofuel product lines and revenuesthrough strategic agreements and acquisitions. These agreements areexpected to enhance Titan's core profitability at wholesale and retaildistribution, as well as further Titan Global Holdings' mission andcommitment to environmental responsibility across its variousdivisions and business units. £ Tate & Lyle uses innovative technology to transform corn and sugarinto value-added ingredients for customers in the food, beverage,pharmaceutical, cosmetic, paper, packaging, and building industries. £ Titan Energy has and will continue to capitalize on initiativeswithin the energy sector that can provide significant opportunitiesfor revenue and earnings growth. Titan is seeking acquisitions tocomplement Appco's existing retail and wholesale distributionfootprint, which currently reaches more than 160 petroleum and fuelproduct dealers in the southeastern United States, along with its 56convenience store locations. £ "During our due diligence of Appco, the management team laid outits strategic vision for the future of the industry," said BryanChance, President and Chief Executive Officer of Titan GlobalHoldings. "The second strategic objective for Titan Energy was topreserve and expand the supply of biofuels products through strategicagreements that would enhance core profitability at the wholesale andretail distribution levels. With this milestone agreement, we havebegun to fulfill these objectives." £ "Randall Tankersley and our supply chain team did an outstandingjob over the last six months of expanding our relationship with Tate &Lyle and solidifying our access to these important biofuels," saidMarty Anderson, President and Chief Executive Officer of AppalachianOil Company. "Our biofuel agreements will fortify our position as aleading renewable energy provider in the southeast United States.Additionally, increased access to these biofuels will enhance oursales efforts as we are diligently adding dealer accounts in ourexisting markets and new markets as well." £ Last week Titan issued updated revenue and earnings guidance forfiscal 2008. Titan Global Energy is expected to contribute $433million to Titan's stated overall revenue guidance with a range of$735 to $747 Million for fiscal 2008. £ Appco distributes petroleum products to more than 160 dealers inthe southeastern United States and owns and operates 56 convenientstore locations. Appco has more than 550 employees and maintains longstanding partnerships with strategic terminal operators and major oilcompanies. £ Appco's strong revenue base and storied 84-year history providesTitan with an ideal platform company for further expansion of itsenergy efforts. Furthermore, Appco's management team has more than 125years experience in the petroleum and convenience store industry.Titan will preserve and leverage Appco's industry-leading managementteam. £ About Tate & Lyle £ Tate & Lyle is a world leading manufacturer of renewable food andindustrial ingredients. It uses innovative technology to transformcorn and sugar into value-added ingredients for customers in the food,beverage, pharmaceutical, cosmetic, paper, packaging and buildingindustries. The Company is a leader in cereal sweeteners and starches,sugar refining, value added food and industrial ingredients, andcitric acid. Tate & Lyle is the world number-one in industrialstarches and is the sole manufacturer of SPLENDA(R) Sucralose. £ Headquartered in London, Tate & Lyle is listed on the London StockExchange under the symbol TATE.L. In the US, its ADRs trade underTATYY. The Company operates more than 50 production facilitiesthroughout Europe, the Americas and South East Asia. In the year to 31March 2007, it employed 6,900 people in its subsidiaries with afurther 2,300 employed in joint ventures. Sales in the fiscal yearended 31 March 2007 totaled GBP 4.0 billion. Additional informationcan be found on http://www.tateandlyle.com. £ About Titan Global Holdings £ Titan Global Holdings is a diversified holding company with adynamic portfolio of subsidiaries spanning internationaltelecommunications, electronics and homeland security, consumerproducts and energy resources. Through our nine wholly-ownedsubsidiaries, we take advantage of valuable synergies between oursubsidiaries to maximize revenue growth, internal development andstrategic acquisitions. In fiscal 2006 Titan generated in excess of$109 million in revenues on a consolidated basis and projects fiscal2008 revenues up to $747 million. Titan's operating divisions includethe following: £ Titan's Telecommunications Division addresses a range ofhigh-growth markets in the telecommunications, wireless and mobilesegments. Companies include Oblio Telecom, Inc. the second largestpublicly-owned company focused on the international prepaidtelecommunications segment, StartTalk, Inc., Pinless, Inc., TitanWireless Communications, Inc. and Ready Mobile. £ The Titan Global Energy Division aggregates traditional andnext-generation energy and fuel assets that can provide significantopportunities for growth in one of the world's largest and mostcritical markets. £ Titan Global Brands integrates, protects and expands brandmanagement capabilities to leverage and optimize growth across Titan'sworldwide distribution channels. We own or manage more than 100 brandsthat are distributed through efficient, overlapping and expansivedistribution channels. £ Titan Card Services capitalizes on the burgeoning multibilliondollar international prepaid money transfer sector. The Card Servicesdivision provides a seamless brand extension for Titan's growingfamily of prepaid products, currently sold through a nationwidenetwork of more than 71,000 retailers. £ Titan's Electronics and Homeland Security Division includes TitanPCB East, Inc. and Titan PCB West, Inc. These companies specialize inthe manufacture of advanced circuit boards and other electronicproducts for classified military and defense department customers, andother high-tech clients. £ For more information, please visit: www.titanglobalholdings.com. £ For investor-specific information and resources, visithttp://www.trilogy-capital.com/tcp/titan/ orhttp://www.b2i.us/irpass.asp?BzID=1314&to=ea&s=0. £ To view current news, visithttp://www.trilogy-capital.com/tcp/titan/quote.html. To view aninvestor fact sheet about the company, visithttp://www.trilogy-capital.com/tcp/titan/factsheet.html. £ Forward-Looking Statements £ Safe Harbor Statement Under the Private Securities Litigation Actof 1995 -- With the exception of historical information, the mattersdiscussed in this press release are forward-looking statements thatinvolve a number of risks and uncertainties. The actual future resultsof TTGL could differ significantly from those statements. Factors thatcould cause actual results to differ materially include risks anduncertainties such as the inability to finance the company'soperations or expansion, inability to hire and retain qualifiedpersonnel, changes in the general economic climate, including risinginterest rate and unanticipated events such as terrorist activities.In some cases, you can identify forward-looking statements byterminology such as "may," "will," "should," "expect," "plan,""anticipate," "believe," "estimate," "predict," "potential" or"continue," the negative of such terms, or other comparableterminology. These statements are only predictions. Although webelieve that the expectations reflected in the forward-lookingstatements are reasonable, such statements should not be regarded as arepresentation by the Company, or any other person, that suchforward-looking statements will be achieved. We undertake no duty toupdate any of the forward-looking statements, whether as a result ofnew information, future events or otherwise. In light of theforegoing, readers are cautioned not to place undue reliance on suchforward-looking statements. For further risk factors see the riskfactors associated with our Company, review our SEC filings. Copyright Business Wire 2007Related Shares:
Tate & Lyle