Statement From Tim Sullivan, President and CEO of Bucyrus International, Inc. Regarding U.S. Export-Import Bank's Decision to Ap
July 14 2010 - 2:05PM
Today, Bucyrus (Nasdaq:BUCY) issued the following statement:
"On behalf of all the employees of Bucyrus, we would like to
praise the U.S. Export-Import Bank for approving the environmental
aspects of the Reliance Power Project application, which will allow
us to provide mining equipment to the Indian project moving
forward. This is the first step in the process to provide
financing, which will create nearly 1,000 jobs across 13 states in
the U.S., as indicated by a study conducted by the Metropolitan
Milwaukee Association of Commerce*. We are confident that the
remaining steps of this process, including financial review, will
be completed expeditiously in order to allow Reliance Power to
proceed with its project plan."
* Full economic impact report available at www.mmac.org
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 SEC filings are posted
to Bucyrus' websites. Material and financial releases as well
as SEC filings are available at www.investors.bucyrus.com.
Automatic email alerts for these postings are 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' 2008 Form 10-K filed with the
Securities and Exchange Commission on March 2, 2009 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.
CONTACT: Bucyrus International, Inc.
Shelley M. Hickman, Director Global Communications
414-768-4599
Fax: 414-768-5262
shickman@bucyrus.com
www.bucyrus.com
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