November 11, 2008
Bucyrus Receives Order for New 8750 Dragline
SOUTH MILWAUKEE, Wis., Nov. 11, 2008 (GLOBE NEWSWIRE) -- Bucyrus International, Inc. (Nasdaq:BUCY), the world leader in walking dragline design and manufacturing, announced today the signing of a new machine contract with BHP Billiton Mitsubishi Alliance (BMA), Australia for supply of a new 8750 walking dragline. BMA has extensive experience with Bucyrus' machines and BMA officials have once again found that a Bucyrus dragline provides the best solution for their long-term production requirements. While the specific value of this contract has not been released, a dragline of this type and size will typically sell in the range of US$150 to US$200 million constructed.
There are currently 70 Bucyrus brand draglines operating in Australia. BMA owns over half of them making BMA the single largest owner of Bucyrus draglines in the world.This new 8750 will weigh over 15,000,000 lbs (6,803,886 kg) and will carry a 139 cubic yards (106 cubic meters) struck capacity bucket. With a rated suspended load (RSL) capacity of 715,000 lbs (324,322 kgs), this dragline will be one of the largest draglines operating in the world today.
Bucyrus supports BMA's various mine operations through its extensive subsidiary operations in Australia. Tim Sullivan, Bucyrus' President and CEO, stated, "BMA follows a rigorous and thorough review process for evaluating and purchasing its heavy mining equipment. Although Bucyrus and BMA have forged a strong business relationship over many years, we (Bucyrus) still underwent extensive scrutiny of our design, manufacturing and product support capabilities during their dragline review process. The result is that BMA reaffirmed Bucyrus' market leadership by purchasing another world class Bucyrus dragline." For 128 years the name Bucyrus has been synonymous with innovation, productivity and safety.
About Bucyrus International, Inc.
Bucyrus is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus' surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus' underground mining equipment is used primarily for mining coal and also used in mining minerals such as potash and trona. In addition to machine manufacturing, Bucyrus manufactures high quality OE parts and provides world-class support services for their machines. Bucyrus' corporate headquarters is located in South Milwaukee, Wisconsin, USA.
Special Note Regarding Online Availability of Bucyrus Releases and Filings
All Bucyrus financial news releases and filings with the Security and Exchange Commission are posted to Bucyrus' investor relations web site. These releases and filings are available at www.investors.bucyrus.com. Automatic email alerts for these postings are also available from this site. Corporate and general releases as well as product information is available at www.bucyrus.com.
Special Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of predictive, future tense or forward-looking terminology, such as "believes,""anticipates,""expects,""estimates,""intends,""may,""will" or similar terms. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may differ materially from those contained in the forward-looking statements as a result of various factors, some of which are unknown. Bucyrus' policy on forward-looking statements, including a list of factors that could cause actual results to differ materially from those anticipated in forward-looking statements, as well as risk factors relating to Bucyrus are included in Bucyrus' 2007 Form 10-K filed with the Securities and Exchange Commission on February 29, 2008 and any other cautionary statements described in other reports filed by Bucyrus with the Securities and Exchange Commission. All forward-looking statements attributable to Bucyrus are expressly qualified in their entirety by the foregoing cautionary statements. Bucyrus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release was distributed by GlobeNewswire, www.globenewswire.com
CONTACT: Bucyrus International, Inc. Kent B. Henschen, Director, Corporate Communications 414.768.4626 [email protected] www.bucyrus.com