South Milwaukee, WI, USA, December 11, 2009 –
Members of the United Steel Workers of America, Local 1343 employed by Bucyrus International, Inc (NASDAQ: BUCY) at the South Milwaukee and Milwaukee facilities met to discuss and vote on an extension to their existing labor contract. The contract extension was approved by a 70% majority of the voting members on December 9, 2008.
The existing agreement went into effect on November 22, 2004 and was not scheduled to expire until April 30, 2010. In a show of good faith and to allow sufficient opportunity for all parties to address the mutual needs and opportunities of the workforce and of Bucyrus early-negotiations were undertaken. The contract extension will remain in effect through April 30, 2013.
Ken Krueger, Bucyrus Chief Operating Officer stated, “Much has been accomplished in the new labor contract. Operations management and the leadership of Local 1343 have worked hard to put together a good agreement. The agreement provides very competitive wages and benefits, while at the same time improving flexibility and creating an environment that is more conducive to continued improvement and efficiency in manufacturing operations.”
###
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 Online Availability of Bucyrus Releases and Filings
All Bucyrus financial news releases and filings with the Security and Exchange Commission are posted to Bucyrus’ investor relations web site. These releases and filings are available at www.investors.bucyrus.com. Automatic email alerts for these postings are also available from this site. Corporate and general releases, as well as, product information is available at www.bucyrus.com.
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’ 2007 Form 10-K filed with the Securities and Exchange Commission on February 29, 2008 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.