Bulova Technologies Group, Inc. (OTCMKTS:BTGI) shares were up 22.73% to $0.00270 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.09. The company has a market cap of $288,430.00 at 95.29 million shares outstanding.
Bulova Technologies Group is a company that high precision industrial machine tools, primarily through its distribution network. It operates through two segments: Transportation Services and Commercial Sales. Transportation Services provides freight storage and movement across the Continental United States while Commercial Sales is involved in sales and distribution of industrial machines, ammunition, software and healthcare products.
Apart from that, Bulova Technologies Group has the following subsidiaries: Bulova Technologies Machinery LLC, Bulova Technologies Finance LLC, Bulova Technologies (Europe) LLC, Bulova Technologies Advanced Products LLC, Bulova Technologies Healthcare Products LLC, Bulova Technologies Compliance and Security LLC, and BT Twiss Transport LLC.
In a press release, Bulova Technologies Group announced that it has acquired Global Frozen Trucking, Inc, which is a Florida-based refrigerated trucking company, to add six late model trucks and seven refrigerated trailers to the existing BT Transport fleet.
This is yet another BT Twiss Transport action intended to grow 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 $3,000,000 to $5,000,000 annually,” remarked Stephen Gurba, President and CEO of Bulova Technologies Group.
Apart from the additional trailers, Global Frozen Trucking Inc will grant immediate access to their long term customer base. This allowed Bulova Technologies Group shares to recover slightly from their slump earlier in the month. Still, the company has been reporting a lot of progress lately, including having their CNC machine offerings featured in premier manufacturing technology show in Chicago earlier this month.
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