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McapMediaWire --Aqua Power Systems Inc. (OTC: APSI )(“the Company” or “Aqua Power”) would like to provideshareholders an update on recently announced changes within theCompany’s corporate management structure.
The Company recentlyannounced, via Form 8-K, changes within the Company’s managementstructure including officers and directors. With the Company’srecent acquisition of Tradition Transportation Group, Inc. managementbelieved it prudent to alter the Company’s management structure todelegate management functions and maximize future growth potential forthe Company more effectively and efficiently.
As announced in arecent Form 8-K, Robert Morris, who has been a director of the AquaPower since April 2022, became Chief Executive Officer (CEO) of AquaPower Systems Inc. on January 9, 2023. Mr. Morris was selected tobecome CEO based on his relevant experience, background, andprofessional and personal reputations. Mr. Morris is a highlysuccessful entrepreneur and business professional. Mr. Morris is agraduate of Indiana University (Bloomington) and has served as a StateRepresentative in the Indiana House of Representatives since 2010.
Additionally, onJanuary 18, 2023, the Company announced via Form 8-K that Joseph Davishad been recruited and agreed to become President and Treasurer of theCompany in addition to being added as a third Director to Aqua PowerSystems, Inc growing Board of Directors. Mr. Davis comes to Aqua Powerwith more than 20 years of experience in the transportation andlogistics industry having been on the operations side for most of thattime. Mr. Davis is presently Tradition Transport Group, Inc’s ChiefOperating Officer.
Stephen Carnes, who had been Aqua Power Systems, Inc.’sCEO/President and a Director of the Company since December 2022, shallremain on Aqua Power’s Board of Directors as well as continue toserve as Secretary of Aqua Power.
Tradition Transport Group, Inc, a subsidiary ofAqua Power, has six subsidiaries within the trucking, logistics,warehousing, and brokering industries. In a previous press releasedated January 4, 2023, Aqua Power Systems indicated that it was theCompany’s intention to update shareholders in a progressive fashion,regarding each of Aqua Power’s newly acquired Traditionsubsidiaries.
Tradition Transport Group, Inc is a well-established enterpriseproviding multitudes of logistical solutions throughout North Americapertaining to OTR logistics that include but are not limited tofreight management, reverse logistics, freight brokerage, dispatching,equipment leasing and dedicated services warehousing with rail access.The Company is pleased to introduce Tradition Logistics and FreedomFright Brokerage to our valued stakeholders. Highlights on bothfollows.
RobertMorris, Chief Executive Officer of Aqua Power, reports that offices atTradition’s Indianapolis, IN location are undergoing an overhaul,which includes new drywall, paint, finishing touches, and new signagefor the exterior front of the site. This fresh look will signify,intentionally, the start of a bold new chapter for TraditionTransport. CEO Morris stated: "This new look is a statement to thepublic that we are continuing era of growth and expansion forTradition.”
Tradition Logistics provides time-sensitive warehousing,logistics and freight management to all 48 continental states andinternationally throughout Mexico and Canada. In addition to itscurrent service lines and operations, the company is presentlyfocusing on enhancing and developing shipping and rail servicesthrough the Savannah Port in Georgia. Tradition Logistics hascapabilities that include sophisticated transport and inventorymanagement services, just-in-time product management, inventorycontrol, multi-point product distribution, and site-specificwarehousing and storage trailers.
More precisely, Tradition Logistics operates six(6) warehouses with four (4) in Indiana, in the cities of Angola,Indianapolis, Greenfield, and Greenwood; and two (2) located inGeorgia, centered in Statesboro and Savannah. The warehouses togetherprovide more than 2 million sq. ft. of office, warehouse, andlogistics capacity, specifically:
Angola Office and warehouse 135,500 sq.ft.
FranklinOffice and warehouse 389,319 sq. ft.
Greenfield Fulfillment Center 432,000sq. ft.
GreenwoodWarehouse 584,820 sq. ft.
Statesboro Warehouse 205,934 sq. ft.
Savannah Port Facility 311,265 sq. ft.
It is the intention of the Company to continue to expandwarehousing capabilities and holdings. Tradition is currently inlate-stage negotiations with a new customer to utilize our rail andwarehousing services in Savannah, Georgia and the Company hopes toproudly announce details of securing this new major contract in thenear future.
Freedom Freight Brokerage is Tradition's OTR brokeringsolution. To distill complex operations in a nutshell, carrier salesrepresentatives initially identify and qualify third party carriers,then customer account managers solicit and onboard customers, andfinally the carriers and customers are then linked using either DAT orthe truck stop load boards. Freedom Freight Brokerage is anasset-based brokerage, meaning that it is an affiliate of anasset-based carrier (Transport's trucking division). Approximatelyten percent of the freight originates from, or is moved by,Transport's trucking division.
Primary operations for Freedom Freight Brokerageare located at the Franklin Office, which will be relocated within theIndianapolis Metropolitan area. The Franklin Office housesapproximately forty (40) brokers in total.
CEO Morris concluded:"Tradition Transport Group, Inc has many layers of business andits important for me to communicate to our investors how we plan tomaximize everything we now have and take it to the next level. Tothink in terms of Tradition only being a trucking company isshort-sighted. The foundation they have already laid in the othersub-sectors of logistics, warehousing, and brokering all workhand-in-hand within the growing transportation industry to streamlineservices and increase revenues."
Safe Harbor: This Press Release containsforward-looking statements within the meaning of Section 27A of theSecurities Act of 1933 and Section 21E of the Securities Exchange Actof 1934. These forward-looking statements are based on the currentplans and expectations of management and are subject to severaluncertainties and risks that could significantly affect theCompany’s current plans and expectations, as well as future resultsof operations and financial condition. A more extensive listing ofrisks and factors that may affect the Company’s business prospectsand cause actual results to differ materially from those described inthe forward-looking statements can be found in the reports and otherdocuments filed by the Company with the Securities and ExchangeCommission and OTC Markets, Inc. OTC Disclosure and News Service. Thecompany undertakes no obligation to publicly update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise.
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