Bulova Technologies Group, Inc. (Pink Sheets:BLVT) announces the
award of two significant new contracts to its wholly-owned subsidiary,
BT Manufacturing Company LLC, operating in Melbourne, Florida. The two
contract awards represent the return of two business segments previously
manufactured and serviced by the Company in Lancaster, PA.
Stephen L. Gurba, President and Chief Executive Officer of Bulova
Technologies Group, Inc., stated, “These contracts, for two disparate
products and industries, indicate that BT Manufacturing has successfully
re-established itself in market segments that previously constituted
significant sales and earnings.” He continued, “The awards show that BT
Manufacturing continues on a steep growth curve and can meet the needs
of customers in several exciting growth fields.”
The first award, from Thoratec Corporation (NASDAQ GS:THOR), is for the
production of subassemblies for its current generation of heart assist
pumps. The initial Thoratec award will be shipped and invoiced during
the second and third quarter of 2009. BLVT believes that demand for this
category of subassemblies and associated subassemblies will grow
dramatically in the near future. Thoratec Corporation, headquartered in
Pleasanton, CA, is a world leader in therapies to address advanced-stage
heart failure.
The second award, from DRS Technologies, Inc. (“DRS”) is for
subassemblies for the battery tray component of DRS' ruggedized computer
sold to the Department of Defense. Previously, BLVT manufactured and
sold components for DRS Legacy Products. The new order is for ruggedized
circuit boards for inclusion in the DRS ruggedized computer. DRS
Technologies, headquartered in Parsippany, New Jersey, U.S.A., is a
leading supplier of integrated products, services and support to
military forces, intelligence agencies and prime contractors worldwide.
According to Mr. Gurba, “The hard work of all of our employees and
suppliers has enabled us to re-enter important markets for our products
and services. BLVT is presently working on additional significant new
business opportunities. I am confident that our continued hard work will
continue to produce positive and significant successes for the Company.”
Please visit our website at www.BulovaTechGroup.com
for more information.
About BT Manufacturing Company, LLC
BT Manufacturing Company is a qualified SDVO contract manufacturer
located in Melbourne, Florida. It offers printed circuit board, cable
and harness and box build assembly services.
About Bulova Technologies Group, Inc.
Headquartered in Clearwater, Florida, Bulova Technologies Group, Inc.
operates two facilities, Bulova Technologies Ordnance Systems in Mayo,
FL and BT Manufacturing Company in Melbourne, FL. The headquarters also
houses the Bulova Technologies Combat Systems Company which is a world
leader in the international sale of military vehicles, weapons and
munitions in support of the U.S. Department of Defense.
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.
Bulova Technologies Group, Inc.
Steve Gurba, 727-536-6607
