Titanium is at it again

T

theman

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Nov 19, 2009
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I just saw a news release about Titanium buying a Windsor terminal and some assets. It doesn't say what the company name is but the terminal they bought is owned by Drive Logistics. Looks like they bought selected assets only.
 
theman said:
I wonder if Tregakiss owns Drive. In Drive's website, they state they own the building at the address.
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Yeah it is a holding company for drive.

Here is the official release of what they bought:

  1. An agreement to purchase the land and building located at 3315 Devon Dr., Windsor, Ontario that is currently occupied by Drive Logistics Ltd. (the "Windsor Terminal"). The Windsor Terminal is being acquired for cash consideration of $3.4 million. The transaction is expected to close on or about June 10th, 2016.
  2. An agreement to purchase 19 Volvo power units, 59 trailers and furniture and equipment ("Rolling Stock") for aggregate consideration of $2.9 million. The consideration paid is expected to be comprised of a payment of $0.9 million in cash and the issuance of $2 million of the Company's common shares to the Vendor. The acquisition of the Rolling Stock is expected to close on or about June 14th, 2016.
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theman said:
So it is selected assets ... Drive is far larger than that ... unless they refused to buy the older equipment.
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Drive has been moving away from Windsor corridor for the past few years. Not a surprise that they sold their terminal. The equipment must be the equipment they have for strict use in Windsor. They are probably only going to concentrate in Toronto.

Furthermore they must be needing some cash to pay off their debts.
 
Sure doesn't make a lot of sense for a Windsor co. to focus more on the overrun hyper competitive Toronto market. They'd probably be better off to specialize in freight to/from the Windsor area.
 
Freight Broker said:
Sure doesn't make a lot of sense for a Windsor co. to focus more on the overrun hyper competitive Toronto market. They'd probably be better off to specialize in freight to/from the Windsor area.
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When I spoke to Thea a couple of years ago she was saying she is not only a Windsor carrier and they prefer more Toronto freight inbound/outbound. I couldn't explain it either, but the way she made it seem is they were pushing away from Windsor pickup and deliveries.
 
Maybe that's why part of their operation is going to Titanium now. I try to stay clear of the GTA. and prefer to call on people in Leamington, Kingston, Sudbury etc.. they generally don't get 50 calls a day and there's sometimes room to negotiate a realistic rate. Maybe I'm just not going about it the right way with these Toronto shippers..
 
Freight Broker said:
Maybe that's why part of their operation is going to Titanium now. I try to stay clear of the GTA. and prefer to call on people in Leamington, Kingston, Sudbury etc.. they generally don't get 50 calls a day and there's sometimes room to negotiate a realistic rate. Maybe I'm just not going about it the right way with these Toronto shippers..
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Everyone has their strengths and relationships. I'm more knowledgeable on flatbed, stepdeck and RGN. I have a friend who does more LTL and another who is strict dryvan. Same goes for regions and zones.
 
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