Bucyrus Listed on IndustryWeek’s 50 Best Manufacturing Companies
Bucyrus International, Inc. (NASDAQ: BUCY) is pleased to have been recognized by IndustryWeek (IW) magazine as a “Top 50 Best Public Manufacturing Companies". As reported by IW the Top 50 list for 2008 is comprised of 12 petroleum and coal products manufacturers, 10 computer and other electronics sector and nine from the primary metals segment.
The six variables IndustryWeek measured to create the IW 50 were profit margin, financial performance for the past three years in revenue growth, return on equity, asset turnover, inventory turnover and return on assets. Revenue more than doubled for Bucyrus in 2007, due in part to acquisitions as well as the booming demand for mined resources.
Based in the Midwest USA, Bucyrus has a global impact. With the world’s largest installed base of the type of mining equipment it manufacturers nearly 70% of the company’s 2007 total sales (US$1,613.0 billion) shipped to locations outside of North America. To meet growing demands for raw materials and energy, Bucyrus has invested US$200 million in expansions and renovations of its 75 acre site in South Milwaukee, WI. The nearly completed expansion has tripled machine manufacturing capability and doubled the capacity for manufacturing spare parts. While in the midst of renovations Bucyrus also appeared on the June 2007 Business Week listing of “Hot Growth Companies” and was listed as the fastest growing company in Wisconsin for 2008 by the Milwaukee Business Journal.