OLATHE, KANSAS, November 11, 2010 - Butler National Corporation (OTC Bulletin Board BUKS), a leader in the rapidly growing global market for structural modification, maintenance, repair and overhaul (MRO) announced a major milestone with the addition of its 25th international market.
A special-mission modification for a Chilean-based customer continues a five-year history of international success for Butler that includes contracts for customers from Australia to the Ukraine. Clark D. Stewart, President and CEO of Butler National Corporation, commented, "Butler has a unique skill-set that is increasingly sought-after for mission-critical government and business aircraft. This expertise may allow us to further expand our global growth in commercial and business aircraft that could more than double in the next 15 years." According to recently published general aviation reports, the global deliveries of new aircraft are projected to total approximately 57,000 by 2029 including approximately 31,000 commercial and 26,000 business aircraft. This represents a reported more than $3 trillion in value with most of the growth coming from Asia, Latin America, and the Middle East. The total global fleet may approach approximately 70,000 for commercial and business aircraft by 2029, more than double the current global fleet of approximately 33,000. "Our plan is to aggressively add new international markets and additional customers to take advantage of this growth opportunity," said Stewart. The company is already on a strong growth path setting new highs in both sales and profitability for Fiscal 2010. Data from company financial statements further support Butler's growth story: - Butler is the fastest-growing publicly traded company in Kansas including 28 companies with combined revenues of $61 billion
- Butler is the 10th fastest-growing publicly traded company in the Midwest including 923 publicly traded companies with combined revenues of $2.7 trillion
"Butler is well-positioned to benefit from a high-growth global trend. We plan to continue to explore and leverage the strategic opportunities required to continue our high-growth path," concluded Stewart. |