News 
Market Data 
Discover
Replies to post #26552 on Bulova Technologies Group Inc (fka BTGI)
10/05/16 9:12 AM
Bulova Technologies Group, Inc., Announces That Its Subsidiary, BT Twiss Transport LLC, Has Finalized a $6,500,000 Refinancing Package for the Majority of Its Truck and Trailer Fleet
Clearwater, FL -- (ReleaseWire) -- 10/05/2016 -- Bulova Technologies Group, Inc. (OTCQB:BTGI) announced today that, with the goal of improving its monthly cash flow position, BT Twiss Transport LLC has refinanced a significant portion of its operating fleet of trailers and trucks. Sunshine Bank, a local full service bank, provided a $6,500,000 refinancing package.
This refinancing action, coupled with the previously announced acquisition of Global Frozen Trucking Inc., has the dual effect of improving BTGI cash flow for 2017 by approximately $1,000,000, as well as the reduction of nearly $34,000 per month in payments and by the realization of increased profit from the estimated $3,000,000 to $5,000,000 in profitable sales resulting from the Global Frozen Trucking Inc. acquisition.
Stephen L Gurba, President and Chief Executive Officer of BTGI, stated, "These recent actions are aimed at growing a highly successful transportation business endeavor for BTGI. Our growing relationship with Sunshine Bank will assist us in keeping our fleet of trucks and trailers in new or late model condition thereby reducing maintenance costs and improving our reliability. We will continue to seek out and improve in those business areas that will yield higher customer satisfaction and increased profitability."
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.
10/05/16 9:12 AM
AI
