Butler Manufacturing Company acquires Modu-Line Windows, Inc

Business Wire, June 11, 1997

KANSAS CITY, MO--(BUSINESS WIRE)--June 11, 1997--Butler Manufacturing Company announced today that it purchased privately owned Modu-Line Windows, Inc., headquartered in Wausau, Wisconsin. Butler issued common shares for the acquisition with a market value of approximately $7 million, and paid approximately $4.5 million cash, which was used to retire Modu-Line's existing bank debt.

Commenting on the transaction, Donald H. Pratt, Butler's president, said, "Modu-Line, with annual revenues of approximately $16 million, is a leading manufacturer of high quality architectural windows for the nonresidential building market. The business will be integrated with Butler's Vistawall division, which is a leading supplier of storefront, curtain wall and skylight systems. Modu-Line windows will continue to be manufactured at the Wausau facilities and marketed through its traditional sales network. Vistawall will strengthen the marketing of Modu-Line windows through its nationwide sales organization and dealers."

John Holland, vice president and chief financial officer of Butler, indicated that Modu-Line is expected to be accretive to Butler's earnings per share in 1997.

Butler Manufacturing Company is the world's leading producer of pre-engineered building systems and is a supplier of specialty components and construction services for the nonresidential construction market.

CONTACT: John Holland

Vice President - Finance

(816) 968-3255