Many oil and gas industry veterans strongly believe the U.S. is in the midst of an energy renaissance. Consider the following: National oil production now stands at a 12 year high. Along with the increase in domestic production has been a decrease in reliance on foreign supplies. U.S. dependency on foreign oil has been decreasing since it peaked in 2005. In fact, analysts predict that the U.S. is poised to be a net exporter of these resources by the year 2016. If you are First Titan CEO Robert Federowicz, your past experience in the energy sector tells you the time is ripe to get into the action. Thus, First Titan Corporation formed a wholly-owned subsidiary, First Titan Energy, LLC.
First Titan Energy is partnering with established industry players and pursuing active projects in Alabama, Louisiana, Oklahoma, and Texas. First Titan Energy plans to maximize shareholder value in several ways. The company plans to grow through mergers and acquisitions, pursue greenfield projects, and invest in the development of exploration and production technologies.
First Titan is more than just a pure oil and gas play, however. It has the potential of generating multiple revenue streams through diversification. First Titan Corporation itself is engaged in the design and manufacture of panel and custom vacuum-formed instrument panels and wiring harnesses. These products are required for the monitoring of any final product that utilizes a gas or diesel engine source. First Titan will act as a sub-supplier in this market, selling these products to larger manufacturers who will use the parts in their products.
First Titan has also formed another wholly owned subsidiary, First Titan Technical, LLC, which will focus on custom-designed electronics, including instrument panels, wiring harnesses, and other parts. First Titan Technical will source these specialized parts to manufacturers of commercial trucks, boats, generators, and other industrial equipment. Its competitive advantage lies in its smaller size, making it more able to respond to customer needs.
Undoubtedly, Mr. Federowicz has his work cut out for him. Running one of these businesses, let alone three, would prove a real challenge for most business managers. However, he is not one to back down from challenges, having emigrated to the U.S. from Poland in 1994, having owned his own company and having served as CEO of another. These experiences will certainly help First Titan plant its flag successfully in its chosen sectors in the years to come.
For more information about First Titan Energy, please visit www.firsttitanenergy.com
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