SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: June 5, 1997
BUILDERS TRANSPORT, INCORPORATED
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(Exact name of registrant as specified in its charter)
DELAWARE 0-11300 58-1186216
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
POST OFFICE BOX 7005
2029 WEST DEKALB STREET
CAMDEN, SOUTH CAROLINA 29020-7005
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(Address of principal (Zip code)
executive offices)
Registrant's telephone number, including area code (803) 432-1400
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Item 5. OTHER EVENTS
Effective immediately Dan Braatz, formerly Vice President of Builders'
Flatbed Division, has been elected the new President and Chief Operating
Officer of Builders Transport, Incorporated (the "Company"). Mr. Braatz
replaced John Morris who has been elected President of the Company's Dedicated
Services and Contract Logistics Group. Dan Haffner will replace Mr. Braatz as
Vice President of the Company's Flatbed Division and Jim Simoneau will replace
Mike Adams as Vice President of the Company's Van Division.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
99.1 Press release issued by Builders Transport, Incorporated on
May 23, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: May 27, 1997
BUILDERS TRANSPORT, INCORPORATED
By: /S/ Stanford M. Dinstein
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Stanford M. Dinstein
Vice Chairman and
Chief Executive Officer
-2-
Exhibit 99.1
BUILDERS TRANSPORT ANNOUNCES
DAN BRAATZ HAS BECOME NEW PRESIDENT AND
CHIEF OPERATING OFFICER
Camden, South Carolina, May 23, 1997 -- Builders Transport, Incorporated
(NASDAQ-TRUK) announced that Dan Braatz, formerly Vice President of Builders'
Flatbed Division, has been elected the new President and Chief Operating
Officer of the Company, effective immediately. Prior to joining Builders in
June 1996, Mr. Braatz served in several management positions with J.B. Hunt,
most recently as Senior Vice President Sales and Marketing. Mr. Braatz
replaces John Morris who had been elected President of Builders' Dedicated
Services and Contract Logistics Group. It is anticipated that Mr. Braatz will
be elected to the Board of Directors following the annual meeting of the
Company's stockholders in early June. Additionally, Dan Haffner will replace
Mr. Braatz as Vice President of Builders' Flatbed Division, and Jim Simoneau
will replace Mike Adams as Vice President of Builders' Van Division. Mr.
Haffner has worked in various supervisory positions in Builders' Flatbed
Division since 1987. Before Joining Builders in 1996, Mr. Simoneau was
Division Vice President with Special Transport.
Commenting on the management realignment, David Walentas, Chairman of the
Board, stated: "We believe that these realignments are appropriate for Builders
at this time as we continue to work on restructuring certain of our debt
obligations and returning the Company to profitability. We are extremely
fortunate to have found someone of Dan Braatz's capability to lead our
operations in the coming years. Dan has an enviable record in the trucking
business that speaks for itself."
Builders Transport is a truckload carrier transporting a wide range of general
commodities.
Statements contained in this press release that are not historical facts
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In addition, Builders Transport,
through its senior management, may, from time to time, make forward-looking
public statements about the matters described herein or other matters
concerning the Company. All such forward-looking statements are necessarily
estimates reflecting the best judgment of the Company's senior management based
upon current information and involve a number of risks and uncertainties. Such
forward-looking statements should also be considered in light of certain
factors set forth in Builders Transport's filings with the Securities and
Exchange Commission that could affect future accuracy of those statements.
Builders Transport, however, disclaims any intent or obligation to update such
forward-looking statements.
For Information on Builders Transport contact:
Stanford M. Dinstein
Vice Chairman, Chief Executive Officer
(212) 765-5610
