SOUTH MILWAUKEE, Wis., Sept. 14, 2007 (PRIME NEWSWIRE) -- Bucyrus International, Inc. (Nasdaq:BUCY) has confirmed that it is manufacturing a new 8750 AC Walking Dragline for a major coal mining company in Canada. Bucyrus initially received a letter of intent for this dragline earlier this year and finalized the formal contract for the sale in the second quarter. The 8750's capabilities and the advanced technologies that are incorporated into this machine helped to secure the order.
This newest dragline, with a contract value in excess of $100 million, will have a complete AC-IGBT electrical drive system for all motions. Bucyrus, with its partner Siemens Energy & Automation, pioneered the use of AC drive systems on mining equipment nearly 30 years ago. Due to the reliability and maintenance-reducing advantages of the AC systems, AC drives have become the norm for heavy excavating equipment in the surface mining industry. Their use on draglines (the largest single bucket excavators in the world) is no exception.
Ultimately the combined drives for the hoist, drag, swing, and walking motions of this 8750's AC system will have over 37,300 applied horsepower. When in full operating mode, it will be able to lower its 110 yd3 (84.1 m3) bucket to a maximum depth of 250 ft (76.2 m) and drag it until it is filled with nearly 301,000 lbs (136,500 kg) of overburden material (the dirt and rock covering a buried coal seam). That full bucket can then be hoisted to a maximum height of 182 ft (55.5 m) while turning and finally dumping the material 399 ft (121.6 m) away. This machine's operating weight is approximately 16,135,000 lbs (7,319,000 kg).
Tim Sullivan, President and CEO of Bucyrus, confirmed that machine demand is expected to remain strong. "The sale of this dragline highlights the ongoing global demand for our products and services. We continue to expedite the expansion of our manufacturing facilities to meet this growing demand."
About Bucyrus International Inc.
Bucyrus International, Inc. is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus' surface equipment is used for mining coal, copper, iron ore, oil sands and other minerals and Bucyrus' underground equipment is used primarily for mining coal. In addition to machine manufacturing, Bucyrus manufactures high quality OEM parts and provides world-class support services for their machines. The corporate offices of Bucyrus International, Inc. are 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. We caution that any such forward-looking statements are not guarantees of our 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, which are more fully described in our 2006 Form 10-K filed with the Securities and Exchange Commission on March 1, 2007, our prospectus supplement filed with the Securities and Exchange Commission on May 7, 2007 and our Form 10-Q filed on May 10, 2007.