If you are in the heavy equipment industry in one form or another, then you understand what the association of these names and their place within the world. They are synonymous with anything that needs to be moved, whether that is dirt, coal, salt, limestone, and the list goes on. In one fluid and seemingly effortless motion, a machine standing stories tall can take one scoop weighing about 40,000 pounds, and place it on the back of another corporate giant. What took Mother Nature millions of years to produce and place, is now relocated within seconds for distribution around the world. And now, the two have become one.
Industry titans Caterpillar and Bucyrus have rocked the foundation and joined forces to become the largest manufacturer of heavy equipment in the world. The deal announced on Monday Morning at the Bucyrus headquarters in South Milwaukee, Wisconsin, is worth a reported $7.6 Billion dollars, and is expected to be finalized by the middle of 2011 pending approvals. With the latest banking deal finalized about a month ago helping Bucyrus expand sales overseas, this may have been the honey to attract the fly. Over 500 new jobs should continue to be created for Bucyrus, though that number has no initial relevance regarding the merger.
For more than 85 years, Caterpillar Inc. has been making progress possible and driving
positive and sustainable change on every continent. With 2009 sales and revenues of
$32.396 billion, Caterpillar is the world’s leading manufacturer of construction and
mining equipment, diesel and natural gas engines, industrial gas turbines and dieselelectric
locomotives. The company also is a leading services provider through Caterpillar
Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services
and Progress Rail Services.
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,
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