Drone USA, Inc. (OTC Markets: DRUS) (“Drone USA” or the “Company”), a drone service provider, manufacturer, reseller and distributor of products to the U.S. Government through its subsidiary Howco Distributing Co. (“Howco”) announced that its Connecticut subsidiary, HowcoCT, has officially opened its doors for business in West Haven, Connecticut.
Michael Bannon, Drone USA’s Chief Executive Officer, commented: “Part of our three-pronged approach to profitable growth is opening other Howco Distributing locations throughout the United States. A core component to our competitive advantage stems from being near our suppliers. We have identified several existing Howco suppliers in the Northeast region. By being near to our suppliers, we will lower our inbound freight costs and ultimately become more competitive. This also gives us an opportunity to seek out new suppliers in Connecticut, Massachusetts, New York and New Jersey. We have set an aggressive revenue and profit goals for HowcoCT. With the addition of our new Connecticut locations, we anticipate adding approximately $10 million in sales with approximately $600,000 in profit.
Matt Wiles, Howco Distributing Co.’s General Manager, commented “”There is no question Howco Distributing benefits from developing HowcoCT. Primarily, our ability to reduce inbound shipping costs along with reducing our lead times will make us more competitive and ultimately increase profitability”.
About Howco Distributing Co.
Howco, a subsidiary of Drone USA, Inc., is a premier supplier of spare and replacement parts to a wide variety of Federal Government agencies, U.S. military prime contractors and commercial customers worldwide. Founded in 1990 and located in Vancouver, Washington, Howco’s services encompass bid solicitation, contract management, packaging and logistics for construction, transportation, mining and heavy equipment spare and replacement parts to customers worldwide utilizing a wide variety of supply chain solutions. Howco was the winner of 2017 United States Department of Defense Logistics Agency’s Commander’s Choice Supplier Award and the 2012 United States Department of Defense Logistics Agency’s Bronze Supplier Award.
For additional information about Howco Distributing Co., please visit www.howcodistributing.com
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 of like kind. 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 the Company’s Form 10 filed with the U.S. Securities and Exchange Commission.
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