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Bantek's Howco Distributing Awarded $3 Million in Department of Defense (DOD) Contracts and is Named to the BAE Supply Chain Family
Tuesday, August 20, 2019 8:30 AM
PINE BROOK, NJ / ACCESSWIRE / August 20, 2019 / Bantek, Inc. (OTC PINK:BANT) (“Bantek” or the “Company”), a distributor of products to the U.S. Government, a construction and environmental services provider and reseller of drones and drone training, today announced that its Howco Distributing subsidiary has been awarded a contract of approximately $3 million to supply starters and other supplies to the Department of Defense’s (DOD) Defense Logistics Agency, the Navy, the Army and the Coast Guard.
Michael Bannon, Bantek’s Chief Executive Officer, commented, “We have approximately $3 million in purchase order backlog we need to fulfill. We are currently looking for a financial partner to help us quickly work through our backlog. We are also looking for a financial partner to help us work through Drone USA purchase orders. In addition, Matthew Wiles did a great job getting us on BAE’s supplier list. He worked hard to accomplish that goal.”
Matthew Wiles, Bantek’s Chief Operating Officer, commented, “I am excited to begin working directly with BAE as a supplier of hardware and fasteners. This partnership allows Howco to generate revenue as a sub-prime contractor because of the extensive amount of DoD contracts held by BAE.”
About Howco Distributing Co.
Howco Distributing, a subsidiary of Bantek, Inc., is a premier supplier of spare and replacement parts to a wide variety of Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in Vancouver, Washington, Howco's services encompass bid solicitation, contract management, packaging and logistics for construction, transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.
About Bantek, Inc, Inc.
Bantek, Inc. (OTC:BANT), headquartered in Pine Brook, NJ., consists of three separate divisions. First, through Howco Distributing Co., we sell products primarily to the U.S. Department of Defense. Second, through Drone USA we sell drone programs, which consists of drones, training, COA's and waivers and other drone-related services, to law enforcement, firefighters, security companies, local, state and our US government. Third, we sell insulation jackets, slates, and insulation services to hospitals, universities, and manufacturers.
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Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans, “anticipates,” “expects,” “believes,” or similar words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in our Form 10 filed with the U.S. Securities and Exchange Commission.
SOURCE: Bantek, Inc.