Bucyrus adding 515 jobs in Milwaukee

[boomerbust]

Source: jsonline.com

Oct. 27With surging demand from China, India and Russia, mining equipment maker Bucyrus International Inc. said Tuesday it's expanding aggressively and adding 515 new jobs in metro Milwaukee with the help of $20 million in state tax credits.

"We are getting orders from all the emerging economies, literally across the board in nations that produce commodities," said President and Chief Executive Officer Tim Sullivan. By the end of the year, three-fourths of all of the company's business will come from outside the United States, where demand is static, Sullivan said.

Many of the new jobs are related to the February acquisition of the mining equipment division of Terex Corp., based in Connecticut. To complete the acquisition, which made Bucyrus the world's largest mining equipment company, Bucyrus will begin moving Terex managers and engineers to Milwaukee.

At the same time, the company's German-based operations are operating at capacity as global demand for minerals and raw materials reaches a frenzy. To take pressure off the plants in Dortmund, Sullivan is moving some of the German production to Milwaukee. That creates demand for additional welders and metalworkers in the flagship plant in South Milwaukee.



Read more: http://www.rr.com/news/topic/article/rr/4473267/25083727/Bucyrus_adding_515_jobs_in_Milwaukee

[SpiralHawk]

1. "No no no no no - This totally sucks." - Republicons

"We want America to Fail."

- Rush DraftDodger Limbaugh (R - Chief Propagandist(

[HughBeaumont]

7. Right, so they can pick up where they left off.

The Can't-Miss Prospects of Fail still have a LOTTTTA work to be done! The plutonomy isn't completely installed yet.

[exboyfil]

2. A coworker retired and went to work there

They are recruiting in the same area for engineering that we are. It is good for the Milwaukee area, but we are talking about coal mining equipment - kind of going the wrong way when it comes to global warming.

The work required the approval of approx. $1B loan from the Export-Import Bank to go forward. The equipment is going to be used to mine coal in India. In essence the U.S. taxpayer is on the hook for this money if the loan cannot be serviced by the Indian company.

I don't know about the life cycle of these jobs. Will there be additional coal mining equipment production needs after this contract is satisfied?

[SocialistLez]

3. Gotta love those tax credits. NT

[pampango]

4. Info on Bucyrus investment from Governor Doyle (D).

http://www.wisbusiness.com/index.iml?Article=216088

Governor Jim Doyle (D) today announced $20 million in assistance for Bucyrus International to consolidate and expand their operations and create 515 jobs. The Governor made the announcement with Bucyrus President & CEO Tim Sullivan at the company’s new site in Oak Creek.

“I am happy to announce the state will provide $20 million in Enterprise Zone tax credits to support the expansion of Bucyrus and the creation of 515 jobs in the Milwaukee area,” Governor Jim Doyle said. “Since the national economic crisis began, we have used these new tax credits and incentives to help retain and attract companies across the state – from Republic Airways to Mercury Marine to Harley-Davidson. And today, we are using these new tax credits to help Bucyrus create jobs in Wisconsin.”

Governor Doyle announced the state is providing $20 million in Enterprise Zone tax credits to support Bucyrus’s consolidation and expansion. The state has designated the area as one of 12 Enterprise Zones. Governor Doyle has used the powerful Enterprise Zones credits to help retain and create jobs at ULINE, Republic Airways, Mercury Marine and Oshkosh Corporation.

Bucyrus is investing $44 million for the project, including $5 million for worker training and $39 million in capital investment to rehabilitate the former Midwest Airlines headquarters in Oak Creek. Bucyrus is known for producing high-quality mining equipment for companies around the world and has grown to 10,000 employees in nearly 100 worldwide locations.

[Evasporque]

5. 515 Jobs to help peel back or hollow out the Earth's crust

Lets see...we mine the ore, that is shipped to china that is made into steel, that is shipped back here, so we can make mining equipment and ship it back to china, where it will be reversed engineered and more copies made so they can mine more efficiently to make more steel to make more equipment to mine more ore....

[beamwalker]

6. union

I am curious to know if these are union jobs.
Well, upon further research I found that Bucyrus is a union shop and they sought a deal with the unions before moving forward on this deal.