Titanium Transportation (TSX-V: TTR) named interim Chief Financial Officer Alex Fu to serve in the post permanently.
Fu became interim CFO of the Canadian transportation and logistics company after the departure of Kasia Malz in March. Fu previously served as the director of finance.
“Alex is a committed and dedicated team member, with a strong work ethic, whom I believe will be instrumental in our continued success as we grow the company,” CEO Ted Daniel said in a statement on July 18.
Fu, a certified public accountant, joined Titanium in 2017. As the permanent CFO, Fu will be presiding over the financial operations of one of the few publicly traded trucking companies in Canada.
Based near Toronto, Titanium has grown aggressively through acquisitions – purchasing 10 asset-based carriers since 2011. Daniel told analysts in May that 2019 would be an interesting year for mergers and acquisitions.
He suggested Titanium would consider buying a U.S. carrier.
Titanium is opening a U.S. based-brokerage, Titanium American Logistics, based in Charlotte, North Carolina.
While Titanium’s revenue growth slowed in the first quarter of 2019, largely on a decline in logistics, its trucking business remained strong.
Titanium reported C$184.8 in revenue and C$5.8 in net income in 2018. (A Canadian dollar equals US$0.76.)
