UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
April 11, 1997
(Date of Report)
BUCYRUS INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-871 39-0188050
(State or other (Commission File (IRS Employer
jurisdiction of Number) ID Number)
incorporation)
P. O. Box 500
1100 Milwaukee Avenue
South Milwaukee, Wisconsin 53172
(Address of principal executive offices)
(414) 768-4000
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On April 8, 1997, Bucyrus International, Inc. ("Registrant") and Global
Industrial Technologies Inc. issued a press release announcing that the
Registrant and Global Industrial Technologies Inc. have entered into a
letter of intent relating to the acquisition by the Registrant of the assets
of The Marion Power Shovel Company from Global Industrial Technologies Inc.
A copy of said press release is filed as an exhibit to this report and is
incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits:
99.1 Press Release, dated April 8, 1997, issued by Bucyrus
International, Inc. and Global Industrial Technologies
Inc. announcing a letter of intent relating to the
proposed acquisition by Bucyrus International, Inc. of
the assets of The Marion Power Shovel Company from
Global Industrial Technologies Inc.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BUCYRUS INTERNATIONAL, INC.
(Registrant)
By: /s/C. R. Mackus
Name: C. R. Mackus
Title: Secretary and Controller
Date: April 11, 1997
<PAGE>
BUCYRUS INTERNATIONAL, INC.
EXHIBIT INDEX
TO
CURRENT REPORT ON FORM 8-K
Incorporated
Exhibit Herein By Filed
Number Description Reference Herewith
99.1 Press Release, dated April 8, X
1997, issued by Bucyrus
International, Inc. and Global
Industrial Technologies Inc.
announcing a letter of intent
relating to the proposed
acquisition by Bucyrus
International, Inc. of the
assets of The Marion Power
Shovel Company from Global
Industrial Technologies Inc.
PRESS RELEASE
BUCYRUS INTERNATIONAL, INC.
(NASDAQ: BCYR)
FOR IMMEDIATE RELEASE
BUCYRUS INTERNATIONAL TO BUY MARION POWER SHOVEL
FROM GLOBAL INDUSTRIAL TECHNOLOGIES
South Milwaukee, Wisconsin, April 8, 1997... Bucyrus International, Inc.
("Bucyrus") and Global Industrial Technologies Inc. ("Global") today announced
that they have entered into a letter of intent for Global to sell the assets
of The Marion Power Shovel Company ("Marion") to Bucyrus. Global had
previously announced that the sale of Marion would complete its exit from the
mining equipment business. Subject to Board approval, both Bucyrus and Global
expect to sign a definitive purchase and sale agreement by June 1, 1997.
Closing would be subject to customary contingencies for this type of
transaction.
Bucyrus, with sales of $263.8 million in 1996, combined with Marion, with
sales of $111.4 million in fiscal year 1996, will continue to provide new
equipment and the related parts and service for the worldwide surface mining
industry. The combined businesses will provide improved and cost effective
parts and support services to its worldwide customer base.
Bucyrus International, Inc. is a leading manufacturer of surface mining
equipment.
Global Industrial Technologies is a major manufacturer of technologically
advanced industrial products that support high-growth markets worldwide.
Contact: Daniel J. Smoke, Vice President and Chief Financial Officer,
414-768-5371, or Craig R. Mackus, Secretary and Corporate
Controller, 414-768-4267.
