OAK CREEK, Wis., June 17, 2011 (GLOBE NEWSWIRE) -- Bucyrus International, Inc. (Nasdaq:BUCY) today announced that Bucyrus President and CEO, Tim Sullivan, received the Ernst & Young Entrepreneur Of The Year® 2011 Upper Midwest Award in the Master Entrepreneur category. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Sullivan was selected by an independent panel of judges, and the award was presented at a gala event at the Frontier Center in Milwaukee, Wisconsin on June 15, 2011.
"I am honored to be selected for this award," stated Sullivan. "We wouldn't be where we are today without the strength, dedication and hard work of the Bucyrus management team and our 10,000 employees." Sullivan concluded, "As entrepreneurs and business leaders our responsibility extends beyond the businesses we run; we have a responsibility to give back to our local communities and help those around us be successful."
In 2000, during a severe financial downturn, Sullivan returned to Bucyrus to become its President and CEO. He was tasked with growing the company to reach financial stability and building the workforce to sustain it. Since his return Bucyrus' annual sales have grown from $280 million in 2000 to over $3.65 billion in 2010 and global headcount has grown from nearly 1,700 in 2000 to over 10,000 in 2010. Under Sullivan's leadership, Bucyrus completed an IPO in 2004 and was named the 9th Fastest Growing Company by Fortune magazine in 2010. Additionally, the company completed significant strategic acquisitions -- DBT GmbH in 2007 and the mining division of Terex Corporation in 2010 -- creating the most comprehensive product portfolio of mining equipment for both surface and underground mining applications.
As Bucyrus as grown financially, Sullivan has increased the company's support for the communities where Bucyrus employees live and work. His personal commitment to Bucyrus employees and communities has been shown through his personal matching of employee contributions to certain charitable organizations, his presence on the boards of several community and non-profit organizations, and his hosting of a variety of community events.
As an Upper Midwest award winner, Sullivan is now eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2011 National Award. Award winners in several national categories, as well as the overall Ernst & Young Entrepreneur Of The Year National Award winner, will be announced at the annual awards gala in Palm Springs, California, on November 12, 2011. The awards are the culminating event of the Ernst & Young Strategic Growth Forum®, the nation's most prestigious gathering of high-growth, market-leading companies, which will be held November 9–13, 2011.
About Ernst & Young Entrepreneur Of The Year®
Ernst & Young Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The unique award makes a difference through the way it encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Entrepreneur Of The Year celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 140 cities in more than 50 countries.
About Ernst & Young
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About Bucyrus International, Inc.
Bucyrus is a world leader in the design and manufacture of high productivity mining equipment for the surface and underground mining industries. Bucyrus' surface mining equipment is used for mining coal, copper, iron ore, oil sands and other minerals. Bucyrus' underground mining equipment is used primarily for mining coal and also used in mining minerals such as potash and trona. In addition to machine manufacturing, Bucyrus manufactures high quality OE parts and provides world-class support services for their machines. Bucyrus' corporate headquarters is located in Oak Creek, Wisconsin, USA.
CONTACT: For further information, contact Shelley Hickman, Director - Global Communications Tel: 414-768-4599 email@example.com www.bucyrus.com