BK Technologies Awarded a 5-Year Blanket Purchase Agreement (BPA) from the USDA Forest Service
BK Technologies Corporation (NYSE American: BKTI) has secured a 5-year blanket purchase agreement (BPA) from the USDA Forest Service worth up to $50 million. This agreement, effective until May 6, 2026, allows the USDA to procure necessary communications technology without guaranteeing specific purchase quantities. BK's President highlighted their compliance with unique requirements like NIFC approval and a GSA Contract vehicle, positioning BK Technologies as a key supplier for replenishing communication systems essential for public safety operations.
- Awarded a 5-year blanket purchase agreement with USDA Forest Service worth up to $50 million.
- Opportunity to supply essential communications technology for public safety.
- Distinct positioning with NIFC approval and current GSA Contract vehicle.
- None.
The United States Forest Service is an agency of the U.S. Department of Agriculture that administers the nation's 154 national forests and 20 national grasslands. The Forest Service manages 193 million acres of land.
WEST MELBOURNE, FL / ACCESSWIRE / May 19, 2021 / BK Technologies Corporation (NYSE American:BKTI) today announced it has been awarded a 5-year blanket purchase agreement (BPA) from the USDA Forest Service (USFS). The BPA extends through May 6, 2026, and establishes maximum procurements over the 5-year period of
BK President Tim Vitou commented, "Communications technology is an integral part of the current USDA communication system, which is in need of products to replenish current inventories, as part of its program for lifecycle replacements and upgrades. The purpose of the BPA is to provide the USDA with a contractual instrument to procure these items in a cost-effective and efficient manner. Two specific BPA requirements that uniquely distinguished BK Technologies during this process were NIFC approval and our current GSA Contract vehicle. We look forward to meeting USFS's communications technology needs over the full 5-year term of the BPA."
The United States Forest Service is an agency of the U.S. Department of Agriculture that administers the nation's 154 national forests and 20 national grasslands. The Forest Service manages 193 million acres of land.
About BK Technologies
BK Technologies Corporation manufactures high-specification, American-made communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies is honored to serve these heroes with reliable equipment when every moment counts. The Company's common stock trades on the NYSE American market under the symbol "BKTI". Maintaining its headquarters in West Melbourne, Florida, BK Technologies can be contacted through its website at www.bktechnologies.com or directly at 1-800-821-2900.
Forward-Looking Statements
This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, economic performance, and financial condition and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors and risks, some of which have been, and may further be, exacerbated by the COVID-19 pandemic, include, among others, the following: changes or advances in technology; the success of our land mobile radio product line; successful introduction of new products and technologies, including our ability to successfully develop and sell our anticipated new multiband product and other related products in the planned new BKR Series product line; competition in the land mobile radio industry; general economic and business conditions, including federal, state and local government budget deficits and spending limitations, any impact from a prolonged shutdown of the U.S. Government, and the ongoing effects of the COVID-19 pandemic; the availability, terms and deployment of capital; reliance on contract manufacturers and suppliers; risks associated with fixed-price contracts; heavy reliance on sales to agencies of the U.S. Government and our ability to comply with the requirements of contracts, laws and regulations related to such sales; allocations by government agencies among multiple approved suppliers under existing agreements; our ability to comply with U.S. tax laws and utilize deferred tax assets; our ability to attract and retain executive officers, skilled workers and key personnel; our ability to manage our growth; our ability to identify potential candidates for, and consummate, acquisition, disposition or investment transactions, and risks incumbent to being a noncontrolling interest stockholder in a corporation; impact of the COVID-19 pandemic on the companies in which the Company holds investments; impact of our capital allocation strategy; risks related to maintaining our brand and reputation; impact of government regulation; rising health care costs; our business with manufacturers located in other countries, including changes in the U.S. Government and foreign governments' trade and tariff policies, as well as any further impact resulting from the COVID-19 pandemic; our inventory and debt levels; protection of our intellectual property rights; fluctuation in our operating results and stock price; acts of war or terrorism, natural disasters and other catastrophic events, such as the COVID-19 pandemic; any infringement claims; data security breaches, cyber-attacks and other factors impacting our technology systems; availability of adequate insurance coverage; maintenance of our NYSE American listing; risks related to being a holding company; and the effect on our stock price and ability to raise equity capital of future sales of shares of our common stock. Certain of these factors and risks, as well as other risks and uncertainties, are stated in more detail in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in the Company's subsequent filings with the SEC. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Company Contact:
Hayden IR
James Carbonara
james@haydenir.com
(646)-755-7412
SOURCE: BK Technologies Corporation
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