WEST HAVEN, CT / ACCESSWIRE / July 16 , 2018 / Drone USA, Inc. (OTCQB: DRUS) (“Drone USA” or the “Company”), a service provider and reseller of drones and distributor of products to the U.S. Government, today announced that its subsidiary, Howco Distributing CT (“Howco”), received a contract extension from the Defense Logistics Agency worth a total of $2.8 million, with $1.2 million remaining.
Michael Bannon, Drone USA’s Chief Executive Officer, commented, “The Howco team is performing beyond expectations. They are a truly impressive to work with.”
Matt Wiles, Howco’s VP of Business Operations, stated, “Having long-term contracts allows our fulfillment team to streamline the packaging requirements which reduces cost and improves our lead times.”
Lindsay Somics, Howco’s Sales Manager, stated, “We are confident they will spend the allocated $1,235,860 remaining within the next two option years.”
About Howco Distributing Co.
Howco Distributing, 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.
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. 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 our Form 10 filed with the U.S. Securities and Exchange Commission.