Butler International, Inc. was an engineering services and employment agency based in Fort Lauderdale, Florida. With roots dating back to 1946, the company provided on-site and off-site engineering services to its clients, which include companies in the aerospace, communications, commercial, defense and manufacturing sectors.[1] In 2009, the company filed for Chapter 11 Bankruptcy, and Butler America, LLC agreed to acquire all of the remaining assets of Butler International for $27 million.
Butler International, Inc. (Butler), incorporated in 1985, provides outsourcing, project management and technical staff augmentation services that are performed onsite at the client’s facility, offsite at a Company-owned facility, or offshore at Butler’s facility in Hyderabad, India. Butler offers capability in technical, information technology (IT), and telecommunications disciplines, including engineering design support primarily used for aerospace, defense and heavy equipment manufacturing; software applications development and implementation; enterprise network design and implementation, and telecommunications network systems implementation. Combined, aerospace/aircraft and defense are Butler’s largest vertical industry segments. Butler has serves companies in industries, including aircraft, aerospace, defense, telecommunications, financial services, heavy equipment and manufacturing. In July 2009, the Company announced that it has completed its previously announced sale of substantially all of its non-publishing assets to Butler America LLC. Butler was granted bankruptcy court approval on July 1, 2009, to proceed with the sale, and closed the transaction on July 7, 2009.
Outsourcing
Outsourcing services involve instances, where Butler manages an entire on-going operation on behalf of a client, thereby reducing the client’s cost and the burden of maintaining that operation. Engineering design utilizing computer-aided design (CAD) software and fleet maintenance are examples of outsourcing services provided by the Company. Outsourcing provides clients with access to needed expertise. Butler delivers outsourcing services at offsite facilities established by Butler for such purposes.
Project Management
Project management services involve projects wherein the Company assumes responsibility for specifically defined projects, such as telecommunications network systems implementation, enterprise network design and implementation, or engineering design utilizing CAD software. Depending upon the nature of the assignment, the type of equipment required, and the particular needs of the client, project management services may be provided either onsite at the client’s facilities or offsite at a Butler-owned facility designed for the client’s specific purpose. The Company frequently obtains the necessary equipment for a project (if not available from the client) on a lease basis.
Technical Staff Augmentation
Technical staff augmentation services are provided to supplement a client’s existing work force with technical professionals, who possess engineering design, mechanical, telecommunications, or IT skills tailored to the particular needs of the client’s business. Staff can be added or removed as needed, helping the client avoid costs associated with recruiting and hiring new employees with specialized skills.
Technical Services
Technical services involve skilled technical and engineering personnel providing services to companies worldwide competing in a range of industries, including aircraft/aerospace, defense, heavy equipment/machinery, research, energy, electronics, and pharmaceutical. The Company’s aerospace and defense clients utilize technical services to design and manufacture components for weapon systems and aircraft. Technical services also encompass engineering support services, including consulting, project management, drafting and design, and total outsourcing, while specializing in establishing, managing, and staffing focused engineering support centers carrying out both long-term and short-term projects.
Telecommunications Services
Telecommunications services help telecommunications equipment manufacturers and service providers upgrade wireless and wireline network infrastructure to support voice, high-speed data and video services. Services may be performed in the central office, which is the nerve center of the public network, or in the outside plant, and at cell site locations. Services include integration of wireless, optical, and broadband network systems, including engineering, installation and test (EF&I). Butler also provides fleet services, primarily to clients, which involve customized fleet operations for ground fleet-holders nationwide. The services it provides include vehicle maintenance and repair and total fleet management solutions.
Information Technology Services
IT services help companies implement business solutions that harness the power of technology to optimize business performance. The Company delivers quality assurance services that help clients implement effective software quality assurance testing processes, which help prevent software defects from causing costly business interruptions. Butler also provides clients with onsite, offsite and offshore application development and implementation services. Clients also utilize Butler’s IT staffing services to augment their internal IT staff. Butler provides these services to a variety of industries, including financial services, telecommunications, and consumer products.
Butler achieved sales of $826 million in 1995. In November 1996, Butler's shares migrated to the New York Stock Exchange under the symbol "BBR." The next month, the company announced the purchase of 90 percent of Beker Kft, a manufacturer of building systems based in Nyiregyhaza, Hungary. Established in 1991, it had sales of about $2 million a year and employed 30 people. The purchase complemented Butler's existing plant in Kirkcaldy, Scotland. Butler planned to boost employment at Beker to 250 people as the unit took over the company's Central European business.
In 1995 and 1996, China and Brazil were Butler's largest export markets. A subsidiary, Butler (Shanghai) Inc. was established in the People's Republic in 1995. Within a couple of years, reported China Daily, local companies, rather than multinationals, would account for the bulk of Butler's business there.
Mexico was still important, and Butler developed a strategic partnership with a Guadalajara-based industrial construction firm, GVA Edifacaciones. After shutting down its plant in Kircaldy, Scotland, in 1999 Butler announced it was moving all European manufacturing to its base in Nyiregyhaza, Hungary, with plans to invest another $2 million in its facilities there.
Butler bolstered its Vistawall Architectural Products division in 1997 with the acquisitions of Rebco West Inc., a California manufacturer of entrance doors and storefront windows, and Modu-Line Windows, Inc. of Wisconsin. In the same year, the company sold its Grain Systems division to CTB, Inc. for $34 million.
Robert West retired as chairman and CEO in July 1999. He had held that position since 1986. John J. Holland succeeded him as CEO and also took the role of president while former president Donald H. Pratt became the next chairman.
Sales slipped from $973 million to $960 million in 2003; profits of $25.2 million were off only a little from the previous year. To try to get the company's profit margins, Butler was attempting to shift to a low-inventory production model. The company had about 5,000 employees at the time.
100 in 2001
In 2001, Butler Manufacturing celebrated its 100th anniversary, a rare achievement in the construction industry. The company was building a new $22 million headquarters near the Kansas City site where it had originally been founded. The 160,000-square-foot office complex housed 600 workers.
Butler celebrated another anniversary in 2001; its Annville, Pennsylvania, plant had been in business for 25 years. It had grown to 270 employees; the plant had doubled in size in 1995. One of its latest projects was building 42 hangars for Air National Guard jets.
Butler announced it was selling off its entire European operation, based in Hungary, in March 2002. Butler Europe Kft had had turnover between $19 million and $26 million a year but was not profitable. The buyer, Swedish building materials supplier Lindab AB, marketed Butler's products in Europe after taking over the Hungarian unit.
Butler continued to invest in other international markets. It invested $4 million in a 120,000-square-foot plant in Monterrey, Mexico, in 2003. In 2004, Butler was opening its third factory in the People's Republic of China, in Guangdong. It had added to its original Shanghai plant with another $25 million factory in Tianjin.
Butler posted sales of $796 million in 2003, down from $828 million, as its net loss widened from $1.8 million to $32.1 million. On the positive side, the company's backlog was up 21 percent to $319 million at the end of the year.
In February 2004, the Australian firm of BlueScope Steel Limited announced it was buying Butler for $204 million (A$260 million), including assumed debts of $60 million. BlueScope was interested in Butler as a way to expand its international business beyond its existing operations in Southeast Asia and North America.
Principal Subsidiaries: Butler Export, Inc. (Barbados); BMC Real Estate, Inc.; BUCON, Inc.; Butler Pacific, Inc.; Butler Real Estate, Inc.; Butler, S.A. de C.V. (Mexico); Butler (Shanghai) Inc. (China); Butler (Tianjin) Inc. (China); Global BMC (Mauritius) Holdings Ltd.; Butler Holdings, Inc.; Comercial Butler Limitada (Chile); ; Lester Holdings, Inc.; Liberty Building Systems, Inc.; Moduline Windows, Inc.
Principal Divisions: Construction Services; International Building Systems; North American Building Systems; Real Estate; Architectural Products Group.
Principal Competitors: Magnatrax Corporation; NCI Building Systems Inc.; VP Buildings Inc.
OVERALL
Beta: 0.41
Market Cap (Mil.): $0.09
Shares Outstanding (Mil.): 12.83
Annual Dividend: --
Yield (%): --
FINANCIALS
BUTLQ.PK Industry Sector
P/E (TTM): -- 9.66 17.05
EPS (TTM): -226.74 -- --
ROI: -- 2.85 3.26
ROE: -- 4.85 5.84
Statistics:
Public Company
Incorporated: 1901
Employees: 4,500
Sales: $796.17 million (2003)
Stock Exchanges: New York
Ticker Symbol: BBR
NAIC: 332311 Prefabricated Metal Building and Component Manufacturing; 332999 All Other Miscellaneous Fabricated Metal Product Manufacturing; 331316 Aluminum Extruded Product Manufacturing
Key Dates:
1901: Butler Manufacturing is founded in Kansas City.
1909: The company constructs its first metal building.
1939: Butler wins a government contract for 14,500 grain storage bins.
1976: Annville, Pennsylvania, plant opens.
1995: A subsidiary is established in the People's Republic of China.
1996: A Hungarian operation is acquired.
2002: Butler sells its European business to Lindab AB.
2004: Australia's BlueScope Steel announces its acquisition of Butler Manufacturing.
Name Age Since Current Position
Comeau, Thomas 65 2009 Chairman of the Board
Uyematsu, Ronald 48 2009 President, Chief Executive Officer, Director
Koscinski, Mark 50 2007 Chief Financial Officer, Vice President, Principal Accounting Officer, Controller
Simone, Gerald 48 2008 Senior Vice President - Finance and Accounting
Beckley, James 54 2004 Senior Vice President - Technical Services and Project Engineering
LeCroy, Walter 75 2003 Director
Petrossi, Louis 66 2003 Director
Murray, Frank 54 2004 Director
Tyler, Wesley 48 2004 Director
Address:
P.O. Box 419917
Kansas City, Missouri 64141
U.S.A.
Butler International, Inc. (Butler), incorporated in 1985, provides outsourcing, project management and technical staff augmentation services that are performed onsite at the client’s facility, offsite at a Company-owned facility, or offshore at Butler’s facility in Hyderabad, India. Butler offers capability in technical, information technology (IT), and telecommunications disciplines, including engineering design support primarily used for aerospace, defense and heavy equipment manufacturing; software applications development and implementation; enterprise network design and implementation, and telecommunications network systems implementation. Combined, aerospace/aircraft and defense are Butler’s largest vertical industry segments. Butler has serves companies in industries, including aircraft, aerospace, defense, telecommunications, financial services, heavy equipment and manufacturing. In July 2009, the Company announced that it has completed its previously announced sale of substantially all of its non-publishing assets to Butler America LLC. Butler was granted bankruptcy court approval on July 1, 2009, to proceed with the sale, and closed the transaction on July 7, 2009.
Outsourcing
Outsourcing services involve instances, where Butler manages an entire on-going operation on behalf of a client, thereby reducing the client’s cost and the burden of maintaining that operation. Engineering design utilizing computer-aided design (CAD) software and fleet maintenance are examples of outsourcing services provided by the Company. Outsourcing provides clients with access to needed expertise. Butler delivers outsourcing services at offsite facilities established by Butler for such purposes.
Project Management
Project management services involve projects wherein the Company assumes responsibility for specifically defined projects, such as telecommunications network systems implementation, enterprise network design and implementation, or engineering design utilizing CAD software. Depending upon the nature of the assignment, the type of equipment required, and the particular needs of the client, project management services may be provided either onsite at the client’s facilities or offsite at a Butler-owned facility designed for the client’s specific purpose. The Company frequently obtains the necessary equipment for a project (if not available from the client) on a lease basis.
Technical Staff Augmentation
Technical staff augmentation services are provided to supplement a client’s existing work force with technical professionals, who possess engineering design, mechanical, telecommunications, or IT skills tailored to the particular needs of the client’s business. Staff can be added or removed as needed, helping the client avoid costs associated with recruiting and hiring new employees with specialized skills.
Technical Services
Technical services involve skilled technical and engineering personnel providing services to companies worldwide competing in a range of industries, including aircraft/aerospace, defense, heavy equipment/machinery, research, energy, electronics, and pharmaceutical. The Company’s aerospace and defense clients utilize technical services to design and manufacture components for weapon systems and aircraft. Technical services also encompass engineering support services, including consulting, project management, drafting and design, and total outsourcing, while specializing in establishing, managing, and staffing focused engineering support centers carrying out both long-term and short-term projects.
Telecommunications Services
Telecommunications services help telecommunications equipment manufacturers and service providers upgrade wireless and wireline network infrastructure to support voice, high-speed data and video services. Services may be performed in the central office, which is the nerve center of the public network, or in the outside plant, and at cell site locations. Services include integration of wireless, optical, and broadband network systems, including engineering, installation and test (EF&I). Butler also provides fleet services, primarily to clients, which involve customized fleet operations for ground fleet-holders nationwide. The services it provides include vehicle maintenance and repair and total fleet management solutions.
Information Technology Services
IT services help companies implement business solutions that harness the power of technology to optimize business performance. The Company delivers quality assurance services that help clients implement effective software quality assurance testing processes, which help prevent software defects from causing costly business interruptions. Butler also provides clients with onsite, offsite and offshore application development and implementation services. Clients also utilize Butler’s IT staffing services to augment their internal IT staff. Butler provides these services to a variety of industries, including financial services, telecommunications, and consumer products.
Butler achieved sales of $826 million in 1995. In November 1996, Butler's shares migrated to the New York Stock Exchange under the symbol "BBR." The next month, the company announced the purchase of 90 percent of Beker Kft, a manufacturer of building systems based in Nyiregyhaza, Hungary. Established in 1991, it had sales of about $2 million a year and employed 30 people. The purchase complemented Butler's existing plant in Kirkcaldy, Scotland. Butler planned to boost employment at Beker to 250 people as the unit took over the company's Central European business.
In 1995 and 1996, China and Brazil were Butler's largest export markets. A subsidiary, Butler (Shanghai) Inc. was established in the People's Republic in 1995. Within a couple of years, reported China Daily, local companies, rather than multinationals, would account for the bulk of Butler's business there.
Mexico was still important, and Butler developed a strategic partnership with a Guadalajara-based industrial construction firm, GVA Edifacaciones. After shutting down its plant in Kircaldy, Scotland, in 1999 Butler announced it was moving all European manufacturing to its base in Nyiregyhaza, Hungary, with plans to invest another $2 million in its facilities there.
Butler bolstered its Vistawall Architectural Products division in 1997 with the acquisitions of Rebco West Inc., a California manufacturer of entrance doors and storefront windows, and Modu-Line Windows, Inc. of Wisconsin. In the same year, the company sold its Grain Systems division to CTB, Inc. for $34 million.
Robert West retired as chairman and CEO in July 1999. He had held that position since 1986. John J. Holland succeeded him as CEO and also took the role of president while former president Donald H. Pratt became the next chairman.
Sales slipped from $973 million to $960 million in 2003; profits of $25.2 million were off only a little from the previous year. To try to get the company's profit margins, Butler was attempting to shift to a low-inventory production model. The company had about 5,000 employees at the time.
100 in 2001
In 2001, Butler Manufacturing celebrated its 100th anniversary, a rare achievement in the construction industry. The company was building a new $22 million headquarters near the Kansas City site where it had originally been founded. The 160,000-square-foot office complex housed 600 workers.
Butler celebrated another anniversary in 2001; its Annville, Pennsylvania, plant had been in business for 25 years. It had grown to 270 employees; the plant had doubled in size in 1995. One of its latest projects was building 42 hangars for Air National Guard jets.
Butler announced it was selling off its entire European operation, based in Hungary, in March 2002. Butler Europe Kft had had turnover between $19 million and $26 million a year but was not profitable. The buyer, Swedish building materials supplier Lindab AB, marketed Butler's products in Europe after taking over the Hungarian unit.
Butler continued to invest in other international markets. It invested $4 million in a 120,000-square-foot plant in Monterrey, Mexico, in 2003. In 2004, Butler was opening its third factory in the People's Republic of China, in Guangdong. It had added to its original Shanghai plant with another $25 million factory in Tianjin.
Butler posted sales of $796 million in 2003, down from $828 million, as its net loss widened from $1.8 million to $32.1 million. On the positive side, the company's backlog was up 21 percent to $319 million at the end of the year.
In February 2004, the Australian firm of BlueScope Steel Limited announced it was buying Butler for $204 million (A$260 million), including assumed debts of $60 million. BlueScope was interested in Butler as a way to expand its international business beyond its existing operations in Southeast Asia and North America.
Principal Subsidiaries: Butler Export, Inc. (Barbados); BMC Real Estate, Inc.; BUCON, Inc.; Butler Pacific, Inc.; Butler Real Estate, Inc.; Butler, S.A. de C.V. (Mexico); Butler (Shanghai) Inc. (China); Butler (Tianjin) Inc. (China); Global BMC (Mauritius) Holdings Ltd.; Butler Holdings, Inc.; Comercial Butler Limitada (Chile); ; Lester Holdings, Inc.; Liberty Building Systems, Inc.; Moduline Windows, Inc.
Principal Divisions: Construction Services; International Building Systems; North American Building Systems; Real Estate; Architectural Products Group.
Principal Competitors: Magnatrax Corporation; NCI Building Systems Inc.; VP Buildings Inc.
OVERALL
Beta: 0.41
Market Cap (Mil.): $0.09
Shares Outstanding (Mil.): 12.83
Annual Dividend: --
Yield (%): --
FINANCIALS
BUTLQ.PK Industry Sector
P/E (TTM): -- 9.66 17.05
EPS (TTM): -226.74 -- --
ROI: -- 2.85 3.26
ROE: -- 4.85 5.84
Statistics:
Public Company
Incorporated: 1901
Employees: 4,500
Sales: $796.17 million (2003)
Stock Exchanges: New York
Ticker Symbol: BBR
NAIC: 332311 Prefabricated Metal Building and Component Manufacturing; 332999 All Other Miscellaneous Fabricated Metal Product Manufacturing; 331316 Aluminum Extruded Product Manufacturing
Key Dates:
1901: Butler Manufacturing is founded in Kansas City.
1909: The company constructs its first metal building.
1939: Butler wins a government contract for 14,500 grain storage bins.
1976: Annville, Pennsylvania, plant opens.
1995: A subsidiary is established in the People's Republic of China.
1996: A Hungarian operation is acquired.
2002: Butler sells its European business to Lindab AB.
2004: Australia's BlueScope Steel announces its acquisition of Butler Manufacturing.
Name Age Since Current Position
Comeau, Thomas 65 2009 Chairman of the Board
Uyematsu, Ronald 48 2009 President, Chief Executive Officer, Director
Koscinski, Mark 50 2007 Chief Financial Officer, Vice President, Principal Accounting Officer, Controller
Simone, Gerald 48 2008 Senior Vice President - Finance and Accounting
Beckley, James 54 2004 Senior Vice President - Technical Services and Project Engineering
LeCroy, Walter 75 2003 Director
Petrossi, Louis 66 2003 Director
Murray, Frank 54 2004 Director
Tyler, Wesley 48 2004 Director
Address:
P.O. Box 419917
Kansas City, Missouri 64141
U.S.A.