Bucyrus International, Inc. acquires DBT GmbH

摘要

Bucyrus International, Inc. has signed a definitive agreement to acquire DBT GmbH, based in Germany, a subsidiary of RAG Coal International. Bucyrus will pay 710 million US dollars in cash and issue to RAG 471,476 shares with a market value of around 21 million US dollars. The transaction is expected to be completed at the end of the first quarter of 2007. Bucyrus designs and manufactures walking draglines, electric rope mining shovels and rotary blasthole drills used by the surface mining industry internationally. DBT is a worldwide supplier of complete system solutions for underground coal mining. The combined company, now serves both the surface and underground mining industries and with over 100 years of experience, will have a consolidated installed base of equipment of over 20 billion US dollars. Tim Sullivan, president and CEO of Bucyrus said, "We are extremely excited about combining Bucyrus with DBT and we believe that this is a unique opportunity to jointly build a stronger company for our customers, employees and shareholders. Both companies share a similar culture and history with a focus on technology, delivering high quality products, valued employee relationships and providing first class service to our customers."