|By Marketwired .||
|January 16, 2013 06:49 PM EST||
EDMONTON, ALBERTA -- (Marketwire) -- 01/16/13 -- Titan Logix Corp., (TSX VENTURE:TLA) ("Titan" or the "Company"), reported today its decision to re-enter the burner management market with a new burner management system and cutting edge burner combustion technology.
"The decision to return to the burner management market follows an extensive study of the market, current market regulations, and product offerings," said Titan President and CEO, Greg McGillis. "Following careful consideration and analysis, and improvement of internal processes, the timing is right for us to re-enter the market. The quality of Titan's FGI burner management product line continues to be recognized in the industry, even after we announced our departure from the market in August of 2011."
To effectively execute its strategy, Titan intends to invest in the necessary infrastructure, personnel (management, sales, engineering) and marketing. Titan also announces the hiring of Jeff Langford to head up this new business unit. Mr. Langford comes to Titan with over 20 years of burner and combustion experience.
"The arrival of Jeff on January 21st will enable this new business unit to hit the ground running," continued Greg McGillis. "It is important for our customers to understand that although Titan's product offerings may change from time to time, our core values remain the same - quality products, exceptional customer service, and responsible fiscal management."
The burner management system product line fits within Titan's mission to provide its customers with advanced technology fluid management solutions. This diversification of products and services is outside of current operations. We continue to anticipate the ongoing success of Titan's fluid management product lines for mobile tankers in concert with our reentry into the burner management system market.
About Titan Logix Corp.:
Founded in 1979, Titan Logix Corp. ("Titan" or "the Company") is a high technology company specializing in Research and Development (R&D), manufacturing and marketing of advanced technology fluid management solutions. The Company's products include Guided Wave Radar (GWR) gauges for level measurement and overfill prevention (particularly for use in mobile tanker applications), level gauges for storage tanks, burner management for oilfield heaters, and communication systems for remote alarming and control. The products are currently used in the oil and gas, waste fluid collection, chemical and aviation industries. These technologies and their derivatives under development are applicable to a variety of additional markets which Titan plans to expand into at the appropriate time. A common practice in many of these markets is the use of manual methods for measurement and control. Due to safety considerations, the rising cost of many fluids, awareness and concerns about the environment and technological advancements enabling better operational efficiencies, we are experiencing an increased demand for our advanced technology products. We anticipate this demand will continue as we pursue expansion into other markets.
The products we manufacture are part of a complete asset management solution. The full solution consists of our own market leading products integrated with best-in-class third party solutions to enable our customers to benefit from complete fluid management, throughout each stage of their fluid handling processes. This is captured by our slogan "Advanced Technology Fluid Management Solutions, In the Field, On the Road, In the Office"(TM).
-- In the Field: "In the Field" refers to Titan's solution offerings for storage tanks and process vessels. -- On the Road: "On the Road" refers to Titan's solution offerings for mobile tanker trucks and trailers. -- In the Office: "In the Office" refers to Titan's solution offerings that enable customers to monitor their fluid assets from the convenience of their dispatch center or other back office environment through a wired or wireless connection.
Titan Logix Corp. is a public company listed on the Toronto Venture Stock Exchange and its shares trade under the symbol, TLA.
This news release contains certain statements with information that may be forward-looking and subject to unknown risks and uncertainties. The actual results, performance and achievements of Titan Logix Corp. may differ materially from the results, performance and achievements expressed or implied by such forward-looking statements. These forward-looking statements may not relate strictly to historical or current facts. They represent management's views as of the date of this press release and we assume no obligation to update them. We caution you not to place undue reliance on these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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