INTERNATIONAL COAL NEWS

Bucyrus posts strong sales

ORIGINAL equipment manufacturer Bucyrus increased its mining sales during the September quarter, ...

Angie Tomlinson

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Both original equipment and aftermarket parts and service sales increased, with robust original equipment new orders recorded since the 2007 fourth quarter.

Bucyrus said market conditions continued to be strong in eastern Europe and the United States.

Underground mining sales for the quarter totalled $US309 million, with total sales topping $646 million.

The surface segment also increased sales during the third quarter with all three product lines – electric mining shovels, draglines and blasthole drills – performing well.

Overall net earnings for the quarter were $64 million.

Capital expenditures for the first nine months of 2008 totalled $62.2 million, which included $33.1 million related to the expansion and additional renovation of the South Milwaukee facilities.

Capex for the year is expected to total $100-110 million.

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