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Bucyrus International Company News

Mon, 24 Oct 2016 23:08:02 GMT

Milwaukee manufacturer files for IPO  -  Milwaukee Journal Sentinel
Milwaukee-based specialty vehicle manufacturer REV Group Inc. filed a prospectus Monday to sell $100 million worth of its stock to the public. REV Group is headed by former Bucyrus International executive Tim Sullivan. Earlier this year, the company ...
Mon, 17 Oct 2016 16:31:24 GMT

Caterpillar CEO Pays Price for Bucyrus Bet  -  TheStreet.com
One of Doug Oberhelman's first major decisions after becoming CEO of Caterpillar (CAT) in 2010 was to buy mining equipment maker Bucyrus International for $8.6 billion. That bet, which seemed bold at the time and grew steadily worse as the commodity ...
Mon, 17 Oct 2016 12:50:12 GMT

Nick in the AM: Caterpillar's case of bad mining timing  -  Peoria Journal Star
In 2011, Caterpillar spent a princely sum — $8.8 billion — to purchase Milwaukee-based Bucyrus International Inc. Bucyrus manufactured open-pit mining shovels and underground mining machines, which Peoria-based Caterpillar didn't. Of course, this ...
Wed, 24 Aug 2016 14:01:58 GMT

ANALYSIS: Caterpillar needs to write down Bucyrus goodwill  -  Tire Business
Cat carries as an asset some $3.6 billion in goodwill related to Bucyrus. Goodwill is an accounting construct reflecting the difference between the value of an acquired company's assets and the total acquisition price. In the Bucyrus deal, goodwill was ...
Mon, 22 Aug 2016 18:01:46 GMT

Manufacturing key to north-side jobs  -  Milwaukee Journal Sentinel
Sullivan, then president and CEO of Bucyrus International, said he probably should have opened a weld shop on the north side, since many prospective hires were reluctant to make the trip to South Milwaukee where Bucyrus, since acquired by Caterpillar Inc.
Sat, 20 Aug 2016 05:01:20 GMT
Caterpillar cuts jobs, eyes mining business  -  Longview News-Journal
Caterpillar Inc. is cutting nearly 200 mining industry jobs at a pair of former Bucyrus International Inc. plants, at least one of which it may close or sell under a review of strategic alternatives being launched for part of its struggling mining ...
Fri, 19 Aug 2016 15:50:05 GMT

Caterpillar to Rid Itself of Coal Units Tied to Ill-Fated 2010 Deal  -  TheStreet.com
Caterpillar acquired the units as part of its ill-timed 2010 acquisition of Bucyrus International Inc. for $8.6 billion, which dramatically boosted its exposure to mining at the top of the commodities cycle. Weak commodity prices, coupled with the ...
Mon, 08 Aug 2016 22:07:06 GMT

Master Lock moving to ex-Bucyrus headquarters  -  Milwaukee Journal Sentinel
Master Lock Co. plans to move its headquarters next year to the former Bucyrus International Inc. headquarters, providing more room for the growing Oak Creek-based firm. The company, now at 137 W. Forest Hill Ave ., would move about two miles north to ...
Mon, 01 Aug 2016 17:13:30 GMT

Oak Creek considers incentive to bring new business to former Caterpillar campus  -  Milwaukee Business Journal (blog)
The campus formerly housed Midwest Airlines' corporate office, and then fell under Caterpillar's ownership after the Illinois-based company bought Bucyrus International. Caterpillar in October 2015 announced plans to close the office, and hired ...
Tue, 17 May 2016 13:10:12 GMT

Firm bids contract to build mail trucks  -  Appleton Post Crescent
A specialty-vehicle manufacturer run by former Bucyrus International CEO Tim Sullivan is bidding on a contract to build U.S. Postal Service trucks — a move that could bring a new factory and about 1,000 jobs to the old Tower Automotive site on ...