Bucyrus entered the small revolving steam shovel market by purchasing Vulcan Steam Shovel and building a new factory in Evansville in 1911 and by purchasing the Atlantic Equipment Co. But its small shovel sales lagged so it bought Erie Steam Shovel in 1929. Since Erie was the largest U.S. producer of small excavating machines, that purchase catapulted it to the top of the small shovel industry. In 1931, it entered the walking dragline market by purchasing Monighan Manufacturing of Chicago. The 1970s were boom years and things were looking good for their 100th anniversary in 1980. But a mature market was causing sales to decline. A leveraged buyout hurt everyone except the investment bankers, Goldman, Sacks and Co. who charged a hefty fee for executing the LBO. New foreign markets did allow it to grow itself back to health and out of bankruptcy in May 1996. [company-histories]
The Milwaukee Plant went operational in April 1893 and was bought by Caterpillar in 2011. The Evansville Plant was built in 1911 and sold in 1981 and closed in 1983.
Bucyrus-Erie made the Big Muskie.
|Caterpillar via DeBruler|
They also made the Sliver Spade.
|OEMoffHighway via DeBruler|
Most of the shovels that were used to dig the Panama Canal were built by Bucyrus. [company-histories]