Just as the mining market is really looking at returning strength, Bucyrus International, a world leader in the design and manufacture of mining equipment, announced yesterday that it had completed its acquisition of the mining equipment business of Terex Corp. The transaction will position Bucyrus as the premier supplier of mining equipment, serving its customers from nearly 100 locations around the world with a team approaching 10,000 people. “We are pleased to announce this important milestone for Bucyrus as we begin our 130th year in business. This transaction is a unique opportunity to build an even stronger company for our customers, employees, and stockholders,” said Tim Sullivan, President and CEO of Bucyrus.
Bucyrus now offers a comprehensive product line of mining equipment driven, it says, “by technology, quality, and first class service. Bucyrus designs and manufacturers worldclass machines and provides unparalleled aftermarket support throughout the life of its equipment.”
With the completion of this transaction, Bucyrus has extended its geographic footprint, diversified its product portfolio and positioned the company as a more globally competitive organisation. Bucyrus doubles its addressable market from roughly $15 billion to over $30 billion. “This transaction is a natural extension of our current operations; we’re one company with a proud history powered by hard-working, loyal employees who are passionate about mining,” Sullivan said. “We’ve reinforced our long-held values of safety, customer focus and reliability at work.”
The Bucyrus portfolio now consists of walking draglines, electric rope shovels, the world’s largest hydraulic excavators, off-highway haul trucks, highwall miners, underground longwall systems, room and pillar mining systems and transport machinery and a full line of drills and belt systems for all mining applications. Bucyrus’ unmatched suite of surface and underground mining equipment is “paired with its superior parts, consumable products and aftermarket support throughout the world.”