LARGO, Fla.--(BUSINESS WIRE)--Bulova Technologies Group, Inc. (BTGI) announced today the execution of a Letter of Intent to purchase Big Red Transport, Inc. (“Big Red”), a New Jersey – based trucking company with 27 trucks, 38 refrigerated trailers and currently 38 customers.
Stephen L. Gurba, President and Chief Executive Officer of the Company, stated, “The acquisition of Big Red is a welcome addition to the Bulova Technologies family of transportation companies. Big Red, with hubs in both Netcong, New Jersey and Chicago, Illinois, will complement our transportation companies by providing us with a Northeast and Midwest U.S. platform and ensure the increased efficiency of our current fleet. I anticipate that this transaction will be completed by July 15. This will increase profitable sales in our transportation division by 12 million annually.”
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Europe LLC, Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC and BT-Twiss Transport LLC’s headquarters are all located in Largo, Florida.
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.