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Bulova Technologies Group, Inc. Announces Acquisition Agreement

^{Published on 2008-12-03 09:34:58 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--Bulova Technologies Group, Inc. (Pink Sheets:TSIH) ("the Company") announced today that it has entered into an agreement to acquire 100% of the stock of BT Acquisition Corporation ("BT"). BT has an agreement to acquire certain assets of Bulova Technologies, LLC ("Bulova Technologies") more fully described below.

1. Bulova Technologies manufactures and assembles a wide range of printed circuit boards, including single sided through 14 layers, through-hole, surface mount and mixed technology. They also manufacture cable assemblies and complete systems and offer a wide array of value-add services including design assistance.

2. Bulova Technologies Ordnance Systems produces a variety of pyrotechnic devices, ammunition and related materials for the U.S. Government and allied governments throughout the world.

3. Bulova Technologies Combat Systems is a Systems Integrator, providing our Armed Services and Allied Forces with materials that provide our soldiers an overwhelming edge against enemy forces.

The agreement contemplates a closing in December.

About Bulova Technologies Group, Inc.

Headquartered in Clearwater, Florida, Bulova Technologies Group operates two facilities, Bulova Technologies EMS in Melbourne, FL and Bulova Technologies Ordnance Systems in Mayo, FL. Additionally, certain military contracts are managed from the Clearwater headquarters.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of Bulova Technologies Group officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Bulova Technologies Group actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Bulova Technologies Group has no specific intention to update these statements.