Shareholders
Meeting
April 25, 2007
Forward-looking statements should not be read as a guarantee of future performance or results,
and will not necessarily be accurate indications of the times at, or by which, such performance
or results will be achieved. Forward-looking information is based on information available at the
time and/or management’s good faith belief with respect to future events, and is subject to risks
and uncertainties that could cause actual performance or results to differ materially from those
expressed in the statements.
Forward-looking statements speak only as of the date the statements are made. Bucyrus
International, Inc. (“Bucyrus” or the “Company”) assumes no obligation to update forward-
looking statements to reflect actual results, changes in assumptions or changes in other factors
affecting forward-looking information except to the extent required by applicable securities laws.
If the Company does update one or more forward-looking statements, no inference should be
drawn that the Company will make additional updates with respect thereto or with respect to
other forward-looking statements.
Forward Looking Statements
Forward Looking Statements
The factors that could cause actual results to differ materially from those anticipated in such forward-looking statements and could
adversely affect our actual results of operations and financial condition include, without limitation:
· disruption of our plant operations due to equipment failures, natural disasters or other reasons;
· our ability to attract and retain skilled labor;
· our production capacity;
· our ability to purchase component parts or raw materials from key suppliers at acceptable prices and/or on
the required time schedule;
· the cyclical nature of the sale of new machines due to fluctuations in market prices for copper, coal, oil, iron ore and other
minerals, changes in general economic conditions, interest rates, customers’ replacement or repair cycles, consolidation in
the mining industry and competitive pressures;
· the loss of key customers or key members of management;
· the risks and uncertainties of doing business in foreign countries, including emerging markets, and foreign currency risks;
· our ability to continue to offer products containing innovative technology that meets the needs of our customers;
· costs and risks associated with regulatory compliance and changing regulations affecting the mining industry
and/or electric utilities;
· product liability, environmental and other potential litigation;
· work stoppages at our company, our customers, suppliers or providers of transportation;
· our ability to satisfy under-funded pension obligations;
· our ability to effectively and efficiently integrate the operations of DBT and to realize expected levels of sales,
profit and adjusted EBITDA from this acquisition;
· potential risks and liabilities of DBT unknown to us; and
· our increased levels of debt service obligations.
The foregoing factors do not constitute an exhaustive list of factors that could cause actual results to differ materially from those
anticipated in forward-looking statements, and should be read in conjunction with the other cautionary statements and risk factors
included in our 2006 Annual Report to Stockholders and Annual Report on Form 10-K filed with the Securities and Exchange
Commission on March 1, 2007 and other cautionary statements described in our subsequent reports filed with the Securities and
Exchange Commission.
Agenda
1. Call to Order Theodore C. Rogers,
Chairman
2. Introductions Theodore C. Rogers,
Chairman
3. Meeting Procedure Craig R. Mackus,
Secretary
4. Report of the Inspectors of Election on Attendance Craig R. Mackus,
Secretary
5. Business of the Meeting Theodore C. Rogers,
a. Election of Directors Chairman
b. Ratification of appointment of Independent Accountants
c. Approval of amendment and restatement of 2004 Equity Incentive Plan
6. Management Presentation Timothy W. Sullivan,
President & CEO
7. Shareholder Questions Timothy W. Sullivan,
President & CEO
8. Adjournment Theodore C. Rogers,
Chairman
Business of the Meeting
Election of Directors
Ratification of appointment of
Independent Accountants
Approval of amendment and restatement of
2004 Equity Incentive Plan
Business of the Meeting
Election of Directors
Ratification of appointment of
Independent Accountants
Approval of amendment and restatement
of 2004 Equity Incentive Plan
Business of the Meeting
Election of Directors
Ratification of appointment of
Independent Accountants
Approval of amendment and restatement
of 2004 Equity Incentive Plan
DBT Transaction Summary
Management Presentation
DBT Transaction Summary
On December 17, 2006 Bucyrus International signed a
definitive agreement to acquire DBT GmbH
Financing - $1,290 million Senior Credit Facilities
$400 million 5-year Revolving Facility
€50 million 5-year German Revolving Facility
$825 million 7-year Senior Term Loan Facility
$731 million ($710 million of cash, $21 million of Bucyrus stock)
Purchase Price
Financing
DBT Acquisition & Company Overview
Management Presentation
Strategic Rationale
Increases size and scale for Bucyrus, creating a leading platform in both above
and below ground mining equipment
Pro forma 61% of 2006 revenue from underground mining and 39% from
surface mining
Increases installed base by approximately $9 billion to approximately $22 billion
Increases product and geographic diversification
Provides opportunity to improve surface and underground penetration in high
growth Chinese market
Opportunity to leverage Bucyrus’ aftermarket sales strategy to increase
aftermarket share at DBT
Attractive coal market fundamentals
The DBT acquisition is highly strategic for Bucyrus
Overview of Bucyrus
2006 Sales by Segment
2006 Sales by Geography
2006 Net Sales: $738 Million
2006 Adj. EBITDA(1) : $122 Million
% Margin: 16.5%
Drill holes for explosives used to break rock prior to
excavation
Most popular model price: ~$4.0 million
Average life: 15 years
Market share: 64%
Load materials into haul trucks
Price range: $2 to $20 million
Most popular model: ~$17 million
Average life: 15 years
Market share: 35%
Remove overburden
Provide lowest material removal cost per ton
Price range: $20 to $100 million
Average life: 40 years
Market share: 88%
Product Overview
Electric Mining Shovels
Draglines
Rotary Blasthole Drills
___________________________
1. Adjusted EBITDA excludes non-cash stock compensation expense, severance charges, restructuring charges and net losses from sale of fixed assets.
Overview of DBT
Product Overview
2006 Sales by Product Category
Estimated Sales by Region
2006 Net Sales: $1,175 Million
2006 Adj. EBITDA(1) : $141 Million
% Margin: 12.0%
___________________________
1. Adjusted EBITDA excludes one-time product liability payment, net gains on sale of fixed assets and profit from disposal of DBT Mineral Processing.
Roof Support Shields
#1
31%
Armored Face Conveyor
#1
Automated Plow System
#1
Longwall Shearer
#3
2%
Underground Vehicles
#1 / #2
Feeder Breaker
#2
Continuous Haulage System
#1
Continuous Miner
#2
4%
19%
14%
Market Position
% of Sales
Market Position
% of Sales
Key Investment Highlights
Management Presentation
Key Investment Highlights
Experienced and
Dedicated Senior
Management
Diversified, Blue
Chip Client Base
Leading
Comprehensive
Platform
Predictable and
Recurring Revenue
Strong Market
Positions
Strong End Market
Fundamentals
Large, Diverse
Geographic Footprint
Leading Comprehensive Platform
Estimated Sales by Region
2006 Sales by Product Category
Bucyrus Pro Forma Revenue Breakdown
Parts /
Services
Total
42%
Equipment
Total
58%
Estimated Sales by Commodity
___________________________
Source: Bucyrus filings, Bucyrus management and DBT management.
Underground Total
61%
Surface Total
39%
Coal Fundamentals Remain Very Strong
Over 1 trillion tons of coal reserves spread throughout the world
Reserves will last nearly 200 years at today’s production levels
Chinese coal demand is expected to grow by 5.6% annually from 2004 to 2010
Leading input to global electricity generation; 40% of global generation
More than double the second largest input, natural gas
Most cost effective power generation input; cheaper than oil and gas
New clean coal technologies mitigate environmental and regulatory concerns
Large amounts of coal reserves and massive coal infrastructure makes moves away from
coal impractical
Gasification and liquefaction create opportunity for future growth
TXU recently announced it has begun planning for two integrated gasification
combined-cycle, or IGCC, power plants that will burn coal and sequester the resulting
carbon dioxide
Pro forma for the acquisition, approximately 80% of the
Company’s revenues will come from the coal end market
5.3
9.1
(in billions of short tons)
Global Demand to Grow Dramatically in Coming Decades
Global Coal Demand Growth
___________________________
Source: EIA International Energy Outlook 2005.
Annual Coal Use
Predictable and Recurring Revenue
Combined Company Historical Backlog(1)
Bucyrus Installed Base
___________________________
1. DBT backlog data not pro forma for change in accounting from completed contract to percentage of completion.
Customer Trends
Large multinationals
Record earnings
Significantly increased capital spending
Diversified, Blue Chip Client Base
Representative Customers
(China Shenhua Energy Company)
Large, Diverse Geographic Footprint
___________________________
1.
Source: DBT management.
2.
Source: Bucyrus filings and website.
DBT(1)
Service / Sales Center
Bucyrus(2)
Service / Sales Center
Manufacturing Plant
Manufacturing Plant
Location# of Facilities
Australia 3
Canada 3
China 4
Europe 5
India 4
Inner Mongolia 1
Mexico 1
Russia 1
South Africa 4
South America 7
U.S. 19
Houston
(Pittsburgh)
Washington
Pulaski
Hillsville
Daphne
Monclova
Huntington
Carrier Mills
Pearisburg
Germiston
Beresfield
Mackay
Calcutta
Beijing
Langfang
Tangshan
Kuzbas
Moscow
Lünen/Wuppertal
Myslowice
Milwaukee
Gillette
Ft. Meade
Kilgore
Tyler
Gilbert
Phoenix
Lakeland
Mt. Sterling
Edmonton
Vespasiano
Lincoln
Lima
Ft. McMurray
Labrador City
Carajás
Huaraz
Antofagasta
Iquique
Benoni
Middelburg
Vereeniging
Bangalore
Sidhi
Kolkata
Memphis
Ilkeston
Experienced and Dedicated Management
Bucyrus is led by a team of executives with substantial experience with the
industry and the Company
Bucyrus is retaining key management currently at DBT including William Tate
(CEO), Luis de Leon (CFO) and Hermann Oecking (CHRO)
Bucyrus’ core senior management team was formed in 2000
DBT
8
President & CEO
William Tate
10
Chief Financial Officer
Luis de Leon
22
Treasurer
John Bosbous
4
1
30
29
Years of
Service
Chief Operating Officer
Ken Krueger
Chief Human Resources Officer
Hermann Oecking
Chief Financial Officer
Craig Mackus
President & CEO
Tim Sullivan
Bucyrus
Position
Name
Strategic Business Initiatives
Management Presentation
Bucyrus Strategic Business Initiatives
Continue to increase aftermarket market share
Operating enhancements at DBT
Major manufacturing expansion in final stages
Dragline replacement opportunity
Strategically address the growing China market opportunity
Bucyrus has several strategic initiatives planned for the
short-, medium- and long-term
Bucyrus Aftermarket Parts & Services
Aftermarket Business
Replacement Parts
Service and Maintenance
Machine Moves & Erections
Electrical & Mechanical Upgrades
Turnkey Repair
Component Rebuilds
OEM-Certified Machine Rebuilds
Consulting & Troubleshooting
Estimated Spare Parts Market Share
Historical Service Sales
($ in millions)
Operating Enhancements
Bucyrus has an opportunity to leverage its operating
strengths to improve the profitability of DBT
Focus on DBT Aftermarket Business
SG&A Savings
Leverage Existing Manufacturing Footprint
Introduce Best Practices for DBT Working Capital
Procurement
Dragline Replacement Opportunity
Average order-to-ship time period of 2 years; draglines have an average life of 40 years
23 draglines have been recommissioned over the last 5 years
Age of current fleet
0-10 years: 13 machines
11-20 years: 76 machines
21-30 years: 244 machines
31-40 years: 81 machines
Historical Dragline Shipments
Robust Coal Demand Growth in China
Chinese Coal Demand
___________________________
Source: IEA.
Stockholder Question & Answer Period
Please raise your hand
if you have a question to
bring before the meeting.
Shareholders
Meeting
April 25, 2007