U.S. Export-Import Bank Approves Loan Guarantees
Friday, October 22nd, 2010
Bucyrus International, Inc. (NASDAQ-BUCY), a world leader in the design and manufacture of mining equipment, learned recently that the U.S. Export-Import Bank has approved the application of Reliance Power for loan guarantees supporting the export of Bucyrus’ U.S.-manufactured mining equipment to Reliance.
The nearly 1,000 U.S. jobs supported by the project include over 300 family-supporting jobs in the Milwaukee region and approximately 650 additional U.S. jobs in Bucyrus’ supply chain. “We are very pleased with the decision of the U.S. Export-Import Bank to approve this project. This is great news for Bucyrus, but more importantly, it is great news to be keeping this work in the U.S. and providing job opportunities across 13 states,” said Mr. Sullivan, Bucyrus’ President and CEO.
“We wouldn’t have been able to receive Ex-Im Bank’s approval without the support of our business partners, elected officials and the Administration’s support of U.S. manufacturer’s exports,” Sullivan said. “I would like to personally thank Ex-Im Bank Chairman Hochberg. We will need the Bank’s continuing support.”