Bulova Technologies Receives Additional Award from U.S. Army February 16, 2011 - Business Wire
CLEARWATER, Fla.--(BUSINESS WIRE)-- Bulova Technologies Group, Inc. (Pink Sheets:BLVT.pk - News) ("Bulova Tech" or "the Company") is pleased to announce that its wholly-owned subsidiary, Bulova Technologies Ordnance Systems LLC, has received a 5-year Master Blanket Purchasing Agreement ("BPA") award from the United States Army Contracting Command, Picatinny Arsenal. The BPA calls for the production and delivery of 52 individual weapon items in support of the U.S. Government’s testing / training mission.
The award amount of the BPA is unlimited though, historically, the U.S. Army has purchased approximately $200 million of ammunition with similar contracts.
Stephen L. Gurba, President and Chief Executive Officer of the Company comments, "The award of this new BPA for weapons, combined with the previously announced award for ammunition, makes Bulova Technologies Group, Inc. a leading U.S. supplier of both non standard ammunition and weapons to U.S. and NATO forces."
The Company's backlog at its Ordnance Systems subsidiary now exceeds $550 million, a historically-high number. The backlog includes two (2) contracts for three (3) different Simulators, a fuze contract, a firing device contract, an artillery metal parts contract, and two (2) new Blanket Purchase Agreements for ammunition and weapons, respectively.
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc. and Bulova Technologies (Europe) are headquartered in Clearwater, Florida. Bulova Technologies Europe is registered with the United States Department of State Directorate of Defense Trade Controls (DDTC) as a broker.
Bulova Technologies Ordnance Systems located in Mayo, Florida, is a load, assembly, and pack (L.A.P.) facility specializing in fuzes, safe and arming devices and explosive simulators.
Please visit our website at www.BulovaTechGroup.com for more information.
Forward-Looking Statement
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:
Bulova Technologies Group, Inc.
www.bulovatechgroup.com