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Bantec Inc. (BANTD) is a product and services company targeting various sectors, including the U.S. Government, state governments, municipalities, hospitals, universities, and manufacturers. The company experienced significant growth in sales and profits through its Howco Distributing Co. subsidiary, with sales increasing over 50% from Q1 2023 to Q1 2024. Bantec also recently signed an LOI to acquire a New Jersey-based manufacturing company, enhancing its product offerings. With a focus on strategic acquisitions and partnerships, Bantec aims to continue its growth trajectory.
Bantec, Inc. (OTCPINK: BANT) subsidiary Howco was awarded a $4.19 million U.S. Department of Defense contract for a 5-year Indefinite Delivery Contract for two items. Bantec plans to enhance its capabilities for servicing the U.S. DoD through strategic acquisitions and partnerships, gearing up for future expansion.
Bantec, Inc. has engaged in a Letter of Intent to acquire a small New Jersey based manufacturing company. The target company has sales of $2.3 million and an EBITDA of $300,000, specializing in specialty metal, Teflon, and glass products for pharmaceutical, biotech, and chemical industries. Bantec plans to seek government approval for Chem Flowtronic products and sell them through Howco, with the acquired company becoming a subsidiary of Bantec Inc.
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