Tuesday, February 28, 2012

Bucyrus International- From Bucyrus Foundry and Manufacturing to Caterpillar

Bucyrus was first located in Bucyrus Ohio and an early producer of steam shovels.  In 1893 they moved operations to South Milwaukee, Wisconsin. 
Of the 102 steam shovels used to dig the Panama Canal, Bucyrus supplied 77.  
Bucyrus merged with Erie Steam Shovel Company in 1927 and became Bucyrus-Erie.  
Another merger in 1930 with the English firm of Ruston & Hornsby Ltd formed Ruston-Bucyrus Ltd in England.  The merger gave the company access to world markets.  This partnership lasted until 1985 when Ruston & Hornsby Ltd sold their share during a period of recession in the mining industry. 
Bucyrus also spent time in the 80's known as Becor Western after merging with Western Gear.
In 1993 Bucyrus-Erie filed for Chapter 11 bankruptcy through 1994.
The company became Bucyrus International Inc in 1997.  
Bucyrus acquired Marion Power Shovel in 1997, an intense competitor. 
In 2007 Bucyrus acquired German based DBT Group, manufacturer of underground mining products.
The acquisition of the mining division of Terex Corporation was completed in 2010.
Most recently, Bucyrus agreed to be acquired by Caterpillar in a transaction worth $8.6 billion in mid-2011.  
   This video shows original footage of the building of the Panama Canal.   

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