OLATHE, KANSAS, November 17, 2010 - Butler National Corporation (OTC Bulletin Board BUKS), a leader in the growing global market for structural modification, maintenance, repair and overhaul (MRO) announces the completion of the first installation of its Avcon Fins on a Learjet 25 at Servicios Profesionales De Aviacion based in Guadalajara, Mexico. Servicios Profesionales De Aviacion is the exclusive authorized installation center for Avcon modifications in Latin America.
Constantino Jimenez, CEO of Servicios Profesionales De Aviacion said, "Butler is the only company we would partner with on this technically sophisticated Learjet installation. We have been working with Butler for seven years and look forward to our continued relationship as we work together to expand growth in the Latin American market." Clark D. Stewart, CEO of Butler National commented, "Mexico is a significant and growing market for Learjet modifications. There are more than 200 Learjet 20 and 30 Series airplanes in Mexico that need Avcon fins to improve payload and performance. Avcon Fins may help to make each flight more economical. We believe we will see strong demand for this and other Avcon modifications in the future." Butler National's presence in Mexico continues its effort to leverage a major global growth trend in aviation. According to recently published reports the global deliveries of new aircraft are projected to total 56,900 by 2029 and the total global fleet will approach 70,000 for commercial and business aircraft. This represents more than $3 trillion in value with most of the growth coming from Latin American, Asia and the Middle East. "Our plan is to aggressively increase our footprint in markets throughout Latin America. We are currently working with customers and installation centers in Bolivia, Brazil, Chile, Columbia as well as Mexico. We plan to continue to build on these opportunities in 2011 and beyond," added 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 supports 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
"Latin America is a large growth opportunity for Butler; and our unique capabilities put us in a great position in this market," concluded Stewart. |