CTM ANNOUNCES FURTHER US EXPANSION

Written on the 17 April 2013

CTM ANNOUNCES FURTHER US EXPANSION

AUSTRALIAN company, Corporate Travel Management (CTM) has this week announced the acquisition of TravelCorp, positioning itself en route for further US expansion.

The acquisition of TravelCorp, a Texas and Louisiana-based company specialising in corporate travel, will be effective May 1 this year.

From this date, TravelCorp’s corporate divisions will change their name to TravelCorp CTM.

CTM founder and managing director Jamie Pherous (pictured) says both TravelCorp’s internal operations and location were major drawcards for the company.

“TravelCorp possesses all of the qualities we look for – a great service reputation, a dedicated team and great management.

“They are also a leader within their region, and when it comes to our geographic strategy – Texas and Louisiana are both high growth regions.”

Pherous says the resource industry in these areas were also a selling point, considering CTM’s expertise in the mining, oil and gas sectors.

CTM anticipates that adding TravelCorp to its existing USA business will spur significant growth, and says it is a “strong strategic fit” for longer term growth plans in North America, Asia and Europe.

“With TravelCorp on board, our North American total transaction value (TTV) for FY14 is expected to approach USD$350m, which will allow us to become a key player in the market,” Pherous says.

This forecast is significantly higher than CTM’s TTV from December 31 last year, which stood at approximately USD$120m.

Management of both TravelCorp and CTM are currently working through transition plans to maximise the combined opportunities on offer.


Latest News

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

TECHNOLOGYONE OUTSTRIPS PROFIT EXPECTATIONS AS R&D SKYROCKETS

TECHNOLOGYONE (ASX: TNE) has surpassed market expectations to achieve a half-year profit after tax of $8.1 million, u...

CLASS ACTION FILED AGAINST SURFSTITCH AFTER ANOTHER EARNINGS WIPEOUT

AS ONLINE retailer SurfStitch (ASX: SRF) battles for survival following another negative earnings forecast, a $100 mi...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

Related News

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trad...

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!me...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter