BANTD - Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract | Benzinga
SPARTA, N.J., May 8, 2024 /PRNewswire/ -- Bantec, Inc. (OTC:BANT) ("Bantec" or the "Company"), Bantec, Inc., a product and services company, through its wholly owned subsidiary Howco, was awarded a $4.19-million-dollar contract by the U.S. Department of Defense (DoD).
Michael Bannon, Bantec's Chairman and CEO stated: "Howco was awarded a 5-year Indefinite Delivery Contract for two items, a "Hydraulic Diesel Power Unit" and a "Post Puller". The contract maximum is $4,193,172.34. Howco's strong team and leadership continues to deliver with expanded U.S. DoD contracts."
In 2022, the U.S. Department of Defense spent over $85 billion on small business prime contracts and they are looking to further expand those contracts for small businesses. (Source: U.S. DoD)
"The recently announced Letter of Intent for the acquisition of Chem Flowtronic will enhance our abilities for servicing of the U.S. DoD., in addition to our other brands. ...