The deal could double the company's annual sales potential from $15 billion to $30 billion, the Milwaukee Journal Sentinel reported Monday.
Bucyrus Chief Executive Officer Tim Sullivan said management positions at company headquarters in Milwaukee could increase by as many as 500 employees in a few years.
Terex, with 2,150 employees, is a global manufacturer of hydraulic excavator, trucks and other mining equipment. Bucyrus specializes in producing electric mining shovels that lift 100 tons in one pass, the newspaper said.
Sullivan said "it's a pretty large chunk of their overall business that we are buying."
In its last large purchase, Bucyrus bought German equipment manufacturer DBT in 2006 for $721 million.
The company expects consolidated operations could save $100 million in annual costs, Sullivan said.
Copyright 2009 by United Press International.
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