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BUTLER INTERNATIONAL, INC. SUBSIDIARY REACHES AGREEMENT TO PURCHASE ASSETS OF INTERNATIONAL TECHNICAL SERVICES

 BUTLER INTERNATIONAL, INC. SUBSIDIARY REACHES AGREEMENT
 TO PURCHASE ASSETS OF INTERNATIONAL TECHNICAL SERVICES
 MONTVALE, N.J., Sept. 14 /PRNewswire/ -- Butler International, Inc. (NASDAQ: BUTL) announced today that its wholly owned subsidiary, Butler Services Group, Inc., has reached agreement to purchase certain operating assets of Job Shop Technical Services, Inc., doing business as International Technical Services ("ITS"), of Farmingdale, N.Y. The closing, which is expected shortly, is subject to certain conditions. The purchase price will be $1.6 million, consisting of $1.5 million in cash and other consideration at closing. The transaction continues Butler's strategic initiative to expand its full-service capabilities nationwide.
 ITS provides technical contract labor, payroll and employee leasing services primarily to major corporations in the aerospace, chemical, electronics and energy industries. The acquisition is expected to generate annual revenues of approximately $35 million with a pre-tax operating profit of $1.5 million.
 Edward M. Kopko, chairman and CEO of Butler, stated, "We are very excited about acquiring ITS, which will increase our sales volume by over 10 percent and add over 400 billable employees in eight locations. Additionally, the acquisition will improve Butler's market share and customer service capability as we currently operate in each of the markets ITS services. We expect this will allow us to generate significant economies of scale."
 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.
 -0- 9/14/92
 /CONTACT: Cathy D. Shea of Butler Services Group, 201-573-8000/
 (BUTL) CO: Butler Services Group, Inc., International Technical Services, Inc. ST: New Jersey, New York IN: AIR SU: TNM


DH -- NE019 -- 9096 09/14/92 11:18 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:309
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