U.S. Export-Import Bank Approves Loan Guarantees for Bucyrus' Equipment Sales to Reliance Power
October 21 2010 - 1:29PM
Bucyrus International, Inc. (Nasdaq:BUCY), a world leader in the
design and manufacture of mining equipment, learned today that the
U.S. Export-Import Bank has approved the application of Reliance
Power for loan guarantees supporting the export of Bucyrus'
U.S.-manufactured mining equipment to Reliance.
The nearly 1,000 U.S. jobs supported by the project include over
300 family-supporting jobs in the Milwaukee region and
approximately 650 additional U.S. jobs in Bucyrus' supply chain.
"We are very pleased with the decision of the U.S. Export-Import
Bank to approve this project. This is great news for Bucyrus,
but more importantly, it is great news to be keeping this work in
the U.S. and providing job opportunities across 13 states," said
Mr. Sullivan, Bucyrus' President and CEO.
"We wouldn't have been able to receive Ex-Im Bank's approval
without the support of our business partners, elected officials and
the Administration's support of U.S. manufacturer's exports,"
Sullivan said. "I would like to personally thank Ex-Im Bank
Chairman Hochberg. We will need the Bank's continuing
support."
*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 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' 2009 Form 10-K filed with the Securities and
Exchange Commission on March 1, 2010 and Bucyrus' Form 10-Q
for the quarter ended June 30, 2010 as filed with the Securities
and Exchange Commission on August 6, 2010 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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