Bulova Technologies Group, Inc. Provides Update on Bulova Technologies Europe August 11, 2011 - Business Wire
CLEARWATER, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (OTCQB: BLVT) (the "Company") announced today that the Bulova Technologies Europe LLC ("BTE") program for refurbishment of mortar ammunition for our NATO allies has progressed since its inception in November 2010. BTE's President, Frank Taylor, has visited with seven NATO allies and BTE is actively pursuing refurbishment programs for twelve NATO countries. At this time, BTE has four active bids for mortar refurbishment of 60mm, 81mm, 82mm, and 120mm mortars valued in excess of $50 million in sales over the next two years.
BTE's President, Frank Taylor, stated, "I believe we will be under contract with one or more of our NATO allies by calendar year end."
The Company's CEO Stephen L. Gurba stated he believes the international NATO marketplace provides a tremendous opportunity for sales and profit in the refurbishment of mortars. This program provides a much needed service for our NATO allies. The Company is also seeking opportunities within the US Army to refurbish mortar ammunition in the US. The Company has refurbishment capability at its 261 acre facility in Mayo, Florida.
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc. and Bulova Technologies Europe LLC are headquartered in Clearwater, Florida. Bulova Technologies Group, Inc. is registered with the United States Department of State Directorate of Defense Trade Controls (DDTC) as a broker.
Please visit our website at www.BulovaTechGroup.com for more information.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management.
CONTACT:
Thackston Consulting
Brett Thackston, 404-303-8350
www.bulovatechgroup.com