The $US1.3 billion deal, announced in December 2009, closed late last week and gives the new, larger Bucyrus 100 locations worldwide and a staff of nearly 10,000 people.

Terex products covered by the deal include hydraulic mining excavators, electric-drive mining trucks, track and rotary blasthole drills, and the highwall miner, as well as the related parts and aftermarket service businesses O&K, Unit Rig, Reedrill, Superior Highwall, Halco and Hypac.

The assets will be added to Bucyrus’s offerings to enable it to market walking draglines, electric rope shovels, hydraulic excavators, off-highway haul trucks, highwall miners, underground longwall, room and pillar and transport machinery, and drills and belt systems.

“We are pleased to announce this important milestone for Bucyrus as we begin our 130th year in business,” Bucyrus president Tim Sullivan said.

“This transaction is a natural extension of our current operations; we’re one company with a proud history powered by hard-working, loyal employees who are passionate about mining. We’ve reinforced our long-held values of safety, customer focus and reliability at work.”

As a result of the transaction, the geographically expanded Bucyrus has doubled its addressable market from $US15 billion to more than $30 billion.

The company said in December it had already identified more than $100 million in annual run-rate operating synergies, which it noted were achievable by 2012.

Synergies will be achieved by integrating the companies’ global manufacturing facilities and leveraging manufacturing centres, as well as engineering and product development resources.

Additional cost savings are expected to come by combining management functions and reducing purchasing expenses, similar to Bucyrus's integration of DBT after acquiring it in May 2007.