8-K

                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                              ---------------------

                                    FORM 8-K

              Current Report Pursuant to Section 13 or 15(d) of the

                       THE SECURITIES EXCHANGE ACT OF 1934

                          Date of Report: May 15, 2003

                          BUTLER MANUFACTURING COMPANY

                          Butler Manufacturing Company
                              1540 Genessee Street
                           Kansas City, Missouri 64102
                              Phone (816) 968-3000

                      Incorporated in the State of Delaware

                          Commission File No. 001-12335

                I.R.S. Employer Identification Number: 44-0188420








ITEM 5.  LETTER OF INTENT TO SELL LESTER DIVISION

On May 15, 2003, Butler Manufacturing Company announced that it has signed a
letter of intent to sell substantially all of the assets of the Lester Building
Systems business to a management team headed by John Hill, the current Lester
division president.

The company anticipate completing a definitive purchase agreement during the
next several weeks, with the closing of the transaction occurring late in the
second quarter or early in the third quarter of this year.

The transaction excludes the recent jury verdict awarded to Butler Manufacturing
Company related to a lawsuit involving Louisiana-Pacific Corporation. The
original award of $29.6 million is currently under appeal. The company and the
new owners of the Lester Building Systems business will work cooperatively
during the appeal process to bring this litigation to its conclusion.

While the financial terms of the transaction were not disclosed, the company
anticipates it will record an aftertax charge upon sale of approximately $4.3
million, or $.68 per share. The anticipated pretax charge is approximately $7
million, including noncash charges of approximately $6.5 million for the
write-down of assets to net sales value. Per the letter of intent, the company
will provide seller financing to the new owners. The sale is subject to
contingencies common to such transactions, including due diligence reviews,
board approvals, financing, lender consents, and the negotiation of a
definitive agreement.

In 2002, the Lester division reported sales of approximately $42 million and
recorded an operating loss slightly over $6 million, including approximately $3
million of repositioning expenses and one-time legal costs associated with the
Louisiana-Pacific Corporation lawsuit noted above.

The Lester division is part of the company's North American Building Systems
Segment, and designs, manufactures, markets and erects pre-engineered wood-frame
buildings for a variety of end uses. Principal offices are located in Lester
Prairie, Minnesota, with sales, engineering and manufacturing facilities in
Charleston, Illinois and Clear Brook, Virginia.




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                                   SIGNATURES


Pursuant to the requirement 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.



BUTLER MANUFACTURING COMPANY

May 15, 2003                                   /s/ Larry C. Miller
- ------------------                             -------------------
Date                                           Larry C. Miller
                                               Vice President - Finance, and
                                                 Chief Financial Officer



May 15, 2003                                   /s/ John W. Huey
- ------------------                             ----------------
Date                                           John W. Huey
                                               Vice President, General Counsel
                                                 and Secretary





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                                  EXHIBIT INDEX


99.1    Butler Manufacturing Company Signs Letter of Intent to Sell Lester
        Division







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EX-99.1

                                                                    Exhibit 99.1




KANSAS CITY, MO, May 15, 2003 -- Butler Manufacturing Company, (NYSE:BBR) has
signed a letter of intent to sell substantially all the assets of its Lester
Building Systems business to a management team headed by John R. Hill, the
current Lester division president.

The parties anticipate completing a definitive purchase agreement during the
next several weeks, with the closing of the transaction occurring late in the
second quarter or early in the third quarter of this year.

Commenting on the sale, John Holland, Butler's chairman and chief executive
officer, stated, "For the past two years under the new leadership of John Hill
the management team at Lester has made good progress reducing its costs and
increasing its capabilities to service the wood building market at a time of
severe recession in this industry segment. Nevertheless, we have determined it
is in Butler's best interest to focus our efforts on our core businesses. We're
pleased that the current management team will continue running the business and
provide valuable continuity for both customers and suppliers."

Mr. Hill commented, "We have essentially re-tooled our operations over the last
few years and plan to leverage our strengths - people, products, technology and
customer service - to meet the needs of our customers. We're extremely pleased
to be able to chart the next several chapters of Lester history, which dates
back to 1947."

The transaction excludes the recent jury verdict awarded to Butler related to a
lawsuit involving Louisiana-Pacific Corporation. The original award of $29.6
million is currently under appeal. Butler and the new owners of the Lester
Building Systems business will work co-operatively during the appeal process to
bring this litigation to its conclusion.

While the financial terms of the transaction were not disclosed, Butler
anticipates it will record an aftertax charge upon sale of approximately $4.3
million, or $.68 per share. The anticipated pretax charge is approximately $7
million, including noncash charges of approximately $6.5 million for the
write-down of assets to net sale value. Per the letter of intent, Butler will
provide seller financing to the new owners. The sale is subject to contingencies
common to such transactions, including due diligence reviews, board approvals,
financing, lender consents, and the completion of final documentation.

In 2002, the Lester division reported sales of approximately $42 million and
recorded an operating loss slightly over $6 million, including approximately $3
million of repositioning expenses and one-time legal costs associated with the
Louisiana-Pacific lawsuit noted above.

The Lester division designs, manufactures, markets and erects pre-engineered
wood-frame buildings for a variety of end uses. Principal offices are located in
Lester Prairie, Minnesota, with sales, engineering and manufacturing facilities
in Charleston, Illinois and Clear Brook, Virginia.



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Butler Manufacturing Company is the world's leading producer of pre-engineered
building systems, a leading supplier of architectural aluminum systems and
components, and provides construction and real estate services for the
nonresidential construction market.






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Statements in this press release concerning the company's business outlook or
future economic performance; anticipated profitability, revenues, expenses or
other financial items, together with other statements that are not historical
facts, are "forward-looking statements" as that term is defined under the
Federal Securities Laws. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from those
stated in such statements. Such risks and uncertainties include, but are not
limited to, industry cyclicality, fluctuations in customer demand and order
pattern, the seasonal nature of the business, changes in pricing or other
actions by competitors, and general economic conditions, as well as other risks
detailed in the company's 2002 Annual Report to Shareholders on page 16







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