Titan
Logistics Corp. Announces Name Change To Titan Supply
Chain Services
Renaming Strengthens Company's Commitment To Better Serve
Logistics and Supply Chain Solutions Market
Melville,
NY - June 16, 2003 - Titan Logistics Corp., a leading
global supply chain solutions provider, today announced
the renaming of their organization to Titan Supply Chain
Services. This name change is effective immediately, and
further strengthens the company's commitment to most effectively
provide global customer logistic and supply chain solutions.
Titan
Supply Chain Services offers the advantages of a third
party logistics provider, coupled with the resources and
infrastructure of a global distributor that performs all
supply chain management functions as its core business.
The company's services are focused primarily within the
electronic components industry, and specializes in providing
warehousing, demand forecasting, systems management, inventory
control, multi-model transportation, and distribution/
supply chain management service programs to customers
globally.
"Titan
has evolved over the past few years into providing much
more to our customers than traditional logistic services,
such as warehousing and transportation management,"
explains Jim Buzaid, vice president and general manager
for Titan Supply Chain Services. "As we offer more
specialized services, such as demand forecasting, electronic
communications, export compliance and management just
to name a few, we feel the present is the ideal time to
differentiate the Titan global brand from traditional
logistics companies."
Titan's
advanced resources in information technology and warehousing
systems enable the company to be a best in class provider
of solutions that improve service levels, inventory accuracy
and reduce customers total supply chain costs. The company
also offers a wide variety of solution services including
order fulfillment, warehouse management, transportation
management, systems integration, web visibility and hosting,
End of Life Programs, export services, forecast aggregation
and demand planning.
"Titan's
services ensure responsive and reliable logistics program
management services that free our customers to focus on
their core business objectives," continues Mr. Buzaid.
"We are a true solutions provider and our name change
is a direct reflection of the overall Titan service value
proposition."
Titan provides logistical services to several major semiconductor
manufacturers throughout North America and Asia and is
a wholly owned subsidiary of North American based distributor,
Nu Horizons Electronics Corp. (Nasdaq:NUHC).
About
Titan Supply Chain Services
Titan Supply Chain Services., a wholly owned subsidiary
of Nu Horizons Electronics Corp. (NASDAQ:NUHC), provides
global contract supply chain solutions. Titan's information
services, value-added capabilities and regional logistics
centers enable its customers to service their global requirements.
Titan Supply Chain Services also offers service in Southeast
Asia through its affiliate
Titan
Supply Chain Services, PTE. For more Information on Titan
and its global services please visit www.titansupplychain.com.
Except
for historical information contained herein, the matters
set forth in this news release are forward looking statements
that involve certain risks and uncertainties that could
cause actual results to differ from those in the forward-looking
statements. Potential risks and uncertainties include
such factors as the level of business and consumer spending
for electronic products, the amount of sales of the Company's
products, the competitive environment within the electronic
component industry, the ability of the Company to continue
to expand its operations, the level of costs incurred
in connection with the Company's expansion efforts and
the financial strength of the Company's customers and
suppliers. Investors are also directed to consider other
risks and uncertainties discussed in documents filed by
the Company with the Securities and Exchange Commission.
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