Caterpillar Finalizes Bucyrus Acquisition

After Caterpillar completed its $8.8 billion acquisition of Bucyrus on Friday it announced the start of a new mining equipment division in Milwaukee. The acquisition deal was announced last December. The president of the new division Steve Wunning said that there were great times ahead for the newly merged company.

Steve Wunning said that Caterpillar acquiring the Bucyrus facilities in South Milwaukee and Oak Creek would actually be good for business as they would create jobs and not cut them. There was considerable fear of layoffs when the 130 year old Bucyrus company was made the target of Caterpillar’s take over bid.

The funding for the takeover was not based on equity issue but on a combination of cash from the balance sheet and debt. The $4.5 billion new debt was posted by the company on May 24, 2011.

Bucyrus was a world leader in the design and manufacture of high productivity mining equipment for surface and underground mining with reputed products and brands. The deal will allow Caterpillar to rake in profits on the rising demand for coal and minerals in developing nations. Caterpillar is already the largest maker of construction equipment in the world. After it has acquired Bucyrus it will offer the broadest product line available in the industry.

Joel Scanlon

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.


Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Caterpillar. (2019, March 19). Caterpillar Finalizes Bucyrus Acquisition. AZoMining. Retrieved on May 19, 2024 from

  • MLA

    Caterpillar. "Caterpillar Finalizes Bucyrus Acquisition". AZoMining. 19 May 2024. <>.

  • Chicago

    Caterpillar. "Caterpillar Finalizes Bucyrus Acquisition". AZoMining. (accessed May 19, 2024).

  • Harvard

    Caterpillar. 2019. Caterpillar Finalizes Bucyrus Acquisition. AZoMining, viewed 19 May 2024,

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.