Bulova Technologies Group, Inc. (OTC Pink: BTGI) engages in transportation services, such as freight, storage, handling, commercial sales, transportation, and more. Shares of the transportation company were up as high as 23%, backed by heavy volume during early trading on Friday, August 19, 2016. Over the past three months, Bulova Technologies Group, Inc. has seen average daily volume of around 8.98 million shares. However, nearly 12.5 million shares or dollar volume of around $125,000 has already exchanges hands on Friday.
The stock is rallying this morning after management announced they have entered into an agreement to acquire Global Frozen Trucking, Inc. The refrigerated trucking company is expected to add about $3 million in revenues annually, according to management. Here is the press release detailing of the recent acquisition:
Bulova Technologies Group, Inc. Press Release:
LARGO, FL–(Marketwired – Aug 18, 2016) – Bulova Technologies Group, Inc. ( OTC PINK : BTGI ) announced today that its subsidiary, BT Twiss Transport LLC (“BT Transport”), has agreed to acquire Global Frozen Trucking, Inc. (GFTI) a Pinellas Park, Florida based refrigerated trucking company. The acquisition pending final due diligence would close on or before September 30, 2016.
Two significant elements of this acquisition is the addition of six late model trucks and seven refrigerated trailers to the current BT Transport fleet and second access to GFTI’s long term customer base.
Global Frozen Trucking Inc. was founded in 2010 by Mr. Emin Pandza, who has been associated with the trucking industry since 1998. He will be joining BTTwiss Transport to assist in the growth of the Company.
Stephen L Gurba, President and Chief Executive Officer of BTGI, stated, “This is yet another BT Twiss action intended to support our progress as a successful business endeavor for BTGI. We will continue to seek out and improve in those business areas that will yield higher customer satisfaction and increased profitability. Sales from this acquisition are expected to add a minimum of $3,000,000 (three million dollars) of profitable revenues annually.”
About Bulova Technologies Group, Inc.
Bulova Technologies Group, Inc., Bulova Technologies Compliance & Security LLC, Bulova Technologies Health Care Products LLC, Bulova Technologies Europe LLC and Bulova Technologies Machinery LLC’s headquarters are located in Clearwater, Florida and BT-Twiss Transport LLC’s headquarters are located in Largo, Florida.
Emerginggrowth.com Author: Matt Rego