Mitex, Butler team up in $3 million joint venture
"As the economy grows, so will the need by multinationals for efficient factory space," said Peter Strupp, director of business development for Mitex. He said the agreement represents a $3 million investment in Poland. Strupp estimates the market for large warehouse and factory space will reach $200-$250 million over the next three years.
Prefabricated steel-frame structures, imported by Butler from Scotland, can be used to
construct a large factory in as little as six months, Strupp said.
"You get a modern-style factory, warehouse or office building very quickly," he said. He added that the systems are sturdy, and have a 20-year guarantee.
Butler, which had $800 million in sales last year, will finance 20% of construction projects, with Mitex financing the rest. Mitex also plans to find clients here for Butler and serve as Butler's marketing representative. Mitex is a full-service construction company that assists clients through all phases of building from helping them find sites to briefing them on building codes to financing construction, Strupp said. The company builds 1,000 apartment units in Poland a year. Mitex expects $30 million in annual revenues this year, and Strupp expects the Butler venture should translate into $45 million to $50 million in revenues for Mitex in 1996.
Butler is looking for a raw material supplier in Poland, Hungary or the Czech Republic, so it won't have to import from Scotland. Butler also has joint ventures in Japan and Saudi Arabia and has financed 12 projects in Russia.
Wolfgang Lubbert, director of sales for Butler's subsidiary in Eschborn, Germany, said Butler was impressed with both Mitex's technical expertise and knowledge of the Polish market.
Prefabricated steel-frame structures, imported by Butler from Scotland, can be used to
construct a large factory in as little as six months, Strupp said.
"You get a modern-style factory, warehouse or office building very quickly," he said. He added that the systems are sturdy, and have a 20-year guarantee.
Butler, which had $800 million in sales last year, will finance 20% of construction projects, with Mitex financing the rest. Mitex also plans to find clients here for Butler and serve as Butler's marketing representative. Mitex is a full-service construction company that assists clients through all phases of building from helping them find sites to briefing them on building codes to financing construction, Strupp said. The company builds 1,000 apartment units in Poland a year. Mitex expects $30 million in annual revenues this year, and Strupp expects the Butler venture should translate into $45 million to $50 million in revenues for Mitex in 1996.
Butler is looking for a raw material supplier in Poland, Hungary or the Czech Republic, so it won't have to import from Scotland. Butler also has joint ventures in Japan and Saudi Arabia and has financed 12 projects in Russia.
Wolfgang Lubbert, director of sales for Butler's subsidiary in Eschborn, Germany, said Butler was impressed with both Mitex's technical expertise and knowledge of the Polish market.
