Bucyrus International Inc.
Bucyrus International Inc. said it would buy DBT GmbH, a unit of German coal mining group RAG, for $731 million in cash and stock. Bucyrus, which makes equipment used in surface mining, such as walking draglines, electric rope mining shovels and rotary blasthole drills, said the move would enable it to expand into underground mining equipment such as roof support systems, armored face conveyers, plows, shearers and continuous miners.
DBT, with eight facilities around the world and about 3200 employees, generates about $1 billion in annual revenue. It is part of RAG, which has said it plans to go public next year.