Bantec's Howco Distributing Wins Six Defense Logistics Agency Indefinite Delivery Contracts to Supply Pressure Transmitters, Anodes, V-Belts, Maintenance Kits, and Marine Equipment
Bantec, Inc. (OTCPINK: BANT) announced on March 29, 2022, that its subsidiary Howco has secured six indefinite delivery contracts from the Defense Logistics Agency (DLA) worth 1.5 million dollars.
The contracts cover the supply of pressure transmitters, anodes, V-belts, and maintenance kits, which include five one-year contracts and one five-year contract with different OEMs. CEO Michael Bannon expressed optimism about future contract acquisitions, indicating that this achievement could significantly boost revenue for 2022 and beyond.
- Secured six DLA contracts totaling 1.5 million dollars.
- Five contracts are for one year, and one is for five years, indicating stable future revenue.
- Opportunity for additional contracts anticipated, which could further enhance company revenue.
- None.
LITTLE FALLS, N.J., March 29, 2022 /PRNewswire/ -- Bantec, Inc. (OTCPINK: BANT) ("Bantec" or the "Company"), Bantec, Inc., a product and services company, announces that its subsidiary Howco received six IDC contracts to supply pressure transmitters, Anodes, V-Belts and Maintenance Kits.
Michael Bannon, Bantec's Chairman and CEO stated: "we are excited about winning the six DLA Indefinite Delivery Contracts for pressure transmitters, anodes, v-belts and maintenance kits. The contracts total 1.5 million dollars. Five contracts are for one year and one is for five years. Each contract is a different OEM/Vendor. We expect to be successful in securing similar contracts. This sales achievement should significantly increase revenue projections for 2022 and beyond."
About Bantec
Bantec, Inc, a product and services company, through its subsidiaries and divisions sells to facility managers, engineers, maintenance managers, purchasing managers and contract officers who work for hospitals, universities, manufacturers, commercial businesses, local and state governments, and the US government. Our difference that matters consists of establishing lifelong customer and supplier friendships, responding immediately to our customers' needs, and providing products and services through a highly technically trained, motivated, and incentivized workforce.
Forward-Looking Statements
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-K filed with the U.S. Securities and Exchange Commission.
Contacts:
Michael Bannon
Chairman & CEO
mike@bantecinc.com
(203) 410-8924
View original content:SOURCE Bantec, Inc.
