New Leadership for Newly Acquired Appco

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New Leadership for Newly Acquired Appco

DALLAS -- Titan Energy Group, a division of Titan Global Holdings Inc., a diversified holding company, formed a new management team to lead its newly purchased Appalachian Oil Co. (Appco), and estimates that the transaction will be complete in September 2007, the parent company stated.

Blountville, Tenn.-based Appco owns and operates a petroleum product distribution network servicing more than 160 dealers in the Southeastern U.S. The company also owns and operates 56 convenience store locations.

"Appco's seasoned management team is the cornerstone of this transaction as we launch Titan Energy Group," Bryan Chance, president and CEO of Titan Global Holdings Inc., said in a statement. "This team's expertise in the distribution of essential energy products through retail and wholesale channels will provide tremendous knowledge and leadership to Titan as we implement our aggressive growth plans in the energy sector. I look forward to working with this dedicated group to enhance our shareholder value as we continue to generate positive returns and accelerate growth."

The new leadership team has been broken into a number of divisions -- Appco Retail Division; Appco Sales and Marketing Division; and Appco Finance Division -- each with its own leader.

The Appco Retail Division, which operates the company's 56 convenience store locations, will be lead by Marty Anderson. Anderson, who was named the president of the retail division, joined Appco in 2000 as the director of marketing and was later promoted to president of the retail division in July 2006, according to the company.

For the Appco Sales and Marketing Division, John Thomas III will be named the president of the division. This unit generates volume through wholesale contracts to supply fuel to more than 160 dealer accounts in the Southeastern U.S., the company stated.

The Appco Finance Division will be led by Ernestine Clark, as the senior vice president, and Debra Manis, as the vice president of finance. Both Clark and Manis will lead the Administration Division, which oversees accounting, human resources and other administrative functions for the company.