Butler National Corporation Continues Refocus Of Business With Divestiture Of
Florida Waste Water Monitoring Business
OLATHE, Kan., May 2, 2013
OLATHE, Kan., May 2, 2013 /PRNewswire/ --Butler National Corporation (OTC QB:
BUKS), a leader in the growing global market for structural modification,
maintenance, repair and overhaul (MRO) and a recognized provider of management
services in diverse business groups, announces it has closed the sale of the
Company's waste water monitoring business to Beadle Enterprises, LLC.
Beadle Enterprises, LLC is a South-Florida based company operating through its
wholly owned subsidiary Pump Station Maintenance Services, LLC. Mr. Beadle
was most recently the president of Butler National Services, Inc. Mr. Beadle
offers customers a lengthy history of providing wastewater monitoring
services. Butler National Services, Inc. will receive $270,000 over five (5)
years for the assets. Further details are in the Current Report on Form 8-K
filed today by Butler National Corporation with the Securities and Exchange
"Butler National Corporation is a diverse company with both Aerospace Products
and Professional Services segments. We are committed to serving the needs of
our customers and enhancing shareholder value. Mr. Beadle plans to continue
to provide excellent customer service to his customers in South Florida.
Butler National Corporation plans to focus its resources on the core
businesses. We looked for potential candidates to acquire this business and
determined Mr. Beadle was the best candidate based on his knowledge and
experience in the business and ability to provide a seamless transition,"
commented Clark D. Stewart, President and CEO of Butler National Corporation.
Butler National Corporation operates in the Aerospace and Services business
segments. The Aerospace segment focuses on the manufacturing of support
systems for "Classic" commercial and military aircraft including the Butler
National TSD for the Boeing 737 and 747 Classic aircraft, switching equipment
for Boeing McDonnell Douglas Aircraft, weapon control systems for Boeing
Helicopter and performance enhancement structural modifications for Learjet,
Cessna, Dassault and Beechcraft business aircraft. Services include temporary
employee services, gaming services and administrative management services.
The information set forth above includes "forward-looking statements" as
outlined in the Private Securities Litigation Reform Act of 1995 and Section
21E of the Securities Exchange Act of 1934. Words such as "anticipate,"
"estimate," "expect," "project," "intend," "may," "plan," "predict,"
"believe," "should" and similar words or expressions are intended to identify
forward-looking statements. Investors should not place undue reliance on
forward-looking statements, and the Company undertakes no obligation to
publicly update or revise any forward-looking statements. All forward-looking
statements reflect the present expectation of future events of our management
and are subject to a number of important factors, risks, uncertainties and
assumptions that could cause actual results to differ materially from those
described in the forward-looking statements. These factors and risks include,
but are not limited to the Cautionary Statements and Risk Factors, filed as
Exhibit 99 and Section 1A to the Company's Annual Report on Form 10-K for the
year ended April 30, 2012, incorporated herein by reference. Investors are
specifically referred to such Cautionary Statements and Risk Factors for
discussion of factors, which could affect the Company's operations, and
forward-looking statements contained herein.
FOR MORE INFORMATION, CONTACT:
Jim Drewitz, Public Relations Ph (830) 669-2466
Butler National Corporation Investor Relations
Ph (913) 780-9595
SOURCE Butler National Corporation
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