Bucyrus president and chief executive Timothy W Sullivan said the acquisition represented an important event in the development of the company.

“We believe our entry into the underground mining equipment industry will enhance our ability to sell original equipment and aftermarket support to a larger segment of the global mining equipment market, and we are very pleased to add DBT's internationally recognised brand and leading market position to our product portfolio," Sullivan said.

Bucyrus is one of the world's leading manufacturers of large-scale excavation equipment used in surface mining, including walking draglines, electric rope mining shovels and rotary blasthole drills.

DBT manufactures equipment including roof support systems, armoured face conveyers, ploughs, shearers and continuous miners used primarily by the coal industry.