FORT LAUDERDALE, Fla., July 31, 2014 (GLOBE NEWSWIRE) -- Basta Holdings Corp. (OTCBB:BSTA), an aviation services and logistics management company, today announced that the Company has entered into a five year Basic Ordering Agreement (BOA) with the US Defense Logistics Agency Energy department (DLA Energy) for the supply of commercial jet fuel (JA1).
On July 9, 2014, the Defense Logistics Agency Energy department signed Basic Ordering Agreement SP0600-14-G-0628 with Basta Holdings Corp. enabling the Company to bid on future government fuel orders. DLA Energy will issue future delivery orders to solicit pricing for future requirements of JA1 by delivery at the discretion of the government and only offerors holding basic ordering agreements will be eligible to compete for the order.
This BOA is not a contract and provides no guarantees of future awards but is a written instrument of understanding containing terms under which future commercial jet fuel requirements will be solicited, evaluated, awarded and performed by and for the DLA Energy department. Each delivery order will be considered a unique and separate contract and an award of specific requirements will be made to the offeror who is determined to provide the overall lowest cost to the government.
"Basta Holdings is very pleased to enter into this agreement which now allows us to bid on lucrative commercial jet fuel contracts over the next five years," commented Jacob Gitman, President of Basta Holdings.
"Based on our recent agreement with one of the world's top providers of aviation refueling in Chemoil Aviation, Basta is in a favorable position to provide competitive pricing and secure some of these large DLA contracts that could greatly increase our revenue and shareholder value. We believe this is especially
the case in regions such as Africa, Afghanistan and other areas of the Middle East due to our significant experience doing business in these remote regions," continued Mr. Gitman.
About Basta Holdings Corp.
Basta Holdings Corp. provides contract procurement, business development and management services in the aviation and logistics industries. The company specializes in management of long-term ACMI leases of fixed wing and rotary passenger and cargo aircrafts and private business aviation, which includes charter, maintenance, overhaul and FBO development and management as well as various auxiliary services. For more information on the company, please visit www.bastaholdings.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. No past revenue or other performance can guarantee the same or better performance in the future. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.