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BUTLER SERVICE GROUP AND RAYCOMM TRANSWORLD INDUSTRIES REACH AGREEMENT ON PURCHASE OF ASSETS

 BUTLER SERVICE GROUP AND RAYCOMM TRANSWORLD INDUSTRIES
 REACH AGREEMENT ON PURCHASE OF ASSETS
 MONTVALE, N.J., June 18 /PRNewswire/ -- Butler Service Group, Inc. announced today that it has reached agreement to purchase certain operating assets of the Northwest Office of Raycomm Transworld Industries, Inc. (NASDAQ: RACM). The closing, which is expected shortly, is subject to certain conditions. The terms of the purchase were not disclosed.
 The transaction strengthens Butler's presence in the growing Northwest marketplace and continues the company's strategic initiatives to expand its full-service capabilities nationwide.
 Raycomm said this transaction is consistent with the company's strategic plan to refocus its business in other areas of the temporary services business.
 Butler and Raycomm have agreed to have further discussions regarding additional transactions in the future.
 Butler Service Group, Inc. is a domestic and international contract technical services company. It is principally engaged in the location, recruitment and hiring of a wide variety of skilled engineers and technical personnel to provide services, on a temporary basis, to industrial corporations and other organizations throughout the U.S. and abroad. Butler Service Group, Inc. is a wholly owned subsidiary of North American Ventures, Inc. (NASDAQ: NAVI), which will become Butler International, Inc. (NASDAQ: BUTL) effective June 29.
 Raycomm Transworld Industries is a nationwide, contract employment company. It supplies temporary professional and technical personnel and craft laborers to a wide variety of industries.
 -0- 6/18/92
 /CONTACT: Cathy D. Shea of North American Ventures, 201-573-8000/
 (NAVI RACM) CO: North American Ventures, Inc.; Raycomm Transworld Industries ST: New Jersey IN: SU:


CN -- NE005 -- 1417 06/18/92 10:18 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:266
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