Major equipment purchase sees Bucyrus buy Terex and more

Bucyrus International announces that it has bought the mining equipment business from Terex Corp for US$1.3 billion in cash.

 The transaction will make Bucyrus one of the largest mining equipment manufacturers in the world and with the purchase of the Terex products, will make the company the maker of the world’s largest hydraulic excavators available for mining.

  In addition to the Terex mining equipment business, Bucyrus also gets 38 facilities around the world with approximately 2,150 employees and as a result of the transaction, the company will double its market from roughly US$15 billion to more than US$30 billion and create a team of approximately 10,000 people in nearly 100 locations.

  Under the terms of the agreement, Bucyrus also acquires those subsidiaries and assets of Terex Corporation used to design, manufacture and sell hydraulic excavators, surface mining trucks, drills (other than auger drills) highway miners, and related components, parts, and after-sales service, commonly known as O&K, UnitRig, Reedrill, Superior Highwall, Halco and Hypac.