U.S. Export-Import Bank Approves Loan Guarantees for Bucyrus' Equipment Sales to Reliance Power
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SOUTH MILWAUKEE, Wis. - 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.
CONTACT:
Bucyrus International, Inc.
Shelley M. Hickman,
Director Global Communications
414-768-4599
Fax: 414-768-5262
shickman@bucyrus.com
www.bucyrus.com
