05/09/2003 – LONDON, Ontario, Canada

TDS automotive has announced that effective March 31, 2003 it entered into an agreement to acquire 100% ownership of JIT, its partially-owned Brazilian affiliate.

Created in 1993 as a joint venture between TDS and Brazilian transportation company Translor, JIT had been managed by its major Brazilian shareholder and Chairman, Sergio Bio, and by its President, Jose Azank. Both Sergio and Jose will be retiring from active management of the company. An entirely new senior management team has been hired, and Sergio and Jose will be assisting to effect a smooth transition.

Consequent to the change of ownership, TDS automotive has started to assume full operational control of the company; which will, in the future, be known as “TDS logistica LTA”.

To this end, TDS automotive is pleased to announce the following senior management appointments to TDS logistica: Walter Serer joined the company as its Managing Director, effective April 28; Ricardo Faccin will become the Director of Automotive Operations; and Andres Rojas will become the Director Business Development in early May. Each of these gentlemen bring with them relevant experience in the automotive industry in Brazil, obtained in the context of an international North American or European company environment. Each of these executives is warmly welcomed to the TDS automotive group of companies.