Bucyrus International (BUCY)

Customers

Most of our customers are large multinational corporations with operations in the various major surface mining markets throughout the world. In recent years, customers have reduced their operating costs by employing larger, more efficient machines such as those we produce and have become increasingly sophisticated in their use and understanding of technology. Our focus on incorporating advanced technology such as AC drives and advanced controls has increased customer adoption of our product offerings. Further, we believe that these developments have contributed to increased demand for our aftermarket parts and services since we are well-equipped to provide the more sophisticated parts, product technical knowledge and service required by customers who use more complex and efficient machines.

Over the past five years, our surface mining customers have conducted their most significant operations in the United States, South America, South Africa, Australia, Canada, China and India. We expect China and India to experience the most growth in surface mining in the future. In the aggregate, sales of our surface mining original equipment were $622.9 million, $398.7 million and $255.7 million in 2008, 2007 and 2006, respectively, and sales of our surface mining aftermarket parts and services were $660.9 million, $528.4 million and $482.3 million in 2008, 2007 and 2006, respectively. Our customers purchase our aftermarket parts and services because they are high quality, reliable and durable products, and our services are well suited to the long productive lives of our original equipment. However, some surface mine operators may find it more economical to buy lower quality and less durable parts from will-fitters for original equipment that is near the end of its useful life.

Our customers operate under a high fixed cost structure. Small savings on the initial purchase of original equipment may be offset by less efficient operations and greater down time. Furthermore, our customers’ operations are often conducted in remote areas and the large capital investment and long lead time associated with the purchase and erection of a machine encourages many customers to select more reliable and efficient machines and to keep these machines in continuous operation for as long as possible. As a result, our customers are focused on quality as well as price and expect us to offer comprehensive aftermarket parts and services to increase their efficiency and reduce down time.

We do not consider ourselves to be dependent upon any single customer, although on an annual basis a single customer may account for a meaningful percentage of our sales, particularly original equipment sales. In 2008, 2007 and 2006, one customer, BHP Billiton, accounted for approximately 11%, 9% and 13%, respectively,

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of our total surface mining sales. Our top five customers in each of 2008, 2007 and 2006 collectively accounted for approximately 43%, 27% and 40%, respectively, of our total surface mining sales. We believe these relatively high percentages reflect the recent consolidation within the mining industry.

Customers

Most of our
customers are large multinational corporations with operations in the various major surface mining markets throughout the world. In recent years, customers have reduced their operating costs by employing larger, more efficient machines such as those
we produce and have become increasingly sophisticated in their use and understanding of technology. Our focus on incorporating advanced technology such as AC drives and advanced controls has increased customer adoption of our product offerings.
Further, we believe that these developments have contributed to increased demand for our aftermarket parts and services since we are well-equipped to provide the more sophisticated parts, product technical knowledge and service required by customers
who use more complex and efficient machines.

Over the past five years, our surface mining customers have conducted their most significant
operations in the United States, South America, South Africa, Australia, Canada, China and India. We expect China and India to experience the most growth in surface mining in the future. In the aggregate, sales of our surface mining original
equipment were $622.9 million, $398.7 million and $255.7 million in 2008, 2007 and 2006, respectively, and sales of our surface mining aftermarket parts and services were $660.9 million, $528.4 million and $482.3 million in 2008, 2007 and 2006,
respectively. Our customers purchase our aftermarket parts and services because they are high quality, reliable and durable products, and our services are well suited to the long productive lives of our original equipment. However, some surface mine
operators may find it more economical to buy lower quality and less durable parts from will-fitters for original equipment that is near the end of its useful life.

FACE="Times New Roman" SIZE="2">Our customers operate under a high fixed cost structure. Small savings on the initial purchase of original equipment may be offset by less efficient operations and greater down time. Furthermore, our customers’
operations are often conducted in remote areas and the large capital investment and long lead time associated with the purchase and erection of a machine encourages many customers to select more reliable and efficient machines and to keep these
machines in continuous operation for as long as possible. As a result, our customers are focused on quality as well as price and expect us to offer comprehensive aftermarket parts and services to increase their efficiency and reduce down time.

We do not consider ourselves to be dependent upon any single customer, although on an annual basis a single customer may account for a
meaningful percentage of our sales, particularly original equipment sales. In 2008, 2007 and 2006, one customer, BHP Billiton, accounted for approximately 11%, 9% and 13%, respectively,

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of our total surface mining sales. Our top five customers in each of 2008, 2007 and 2006 collectively accounted for approximately 43%, 27% and 40%,
respectively, of our total surface mining sales. We believe these relatively high percentages reflect the recent consolidation within the mining industry.

FACE="Times New Roman" SIZE="2">Competitors

Our primary global competitor in electric mining shovels and draglines has historically
been Joy Global Inc.’s P&H Mining Equipment division (“P&H”), although for certain applications our electric mining shovels also compete against hydraulic shovels made by other manufacturers. In rotary blasthole drills we
compete with several worldwide manufacturers. In China and Russia, we also face competition from regional and domestic equipment manufacturers. Competition factors are diverse and include price, lead times, operating costs, machine productivity,
technological enhancements, design and performance, reliability, service, delivery and other commercial factors. Long standing relationships that we have with our customers and our competitors have with their customers and their decision makers can
provide a strong incumbency advantage in retaining business and securing new orders.

For most owners of our machines, we are the primary
replacement source for highly engineered, integral components. Competition in replacement parts sales consists primarily of will-fitters. P&H also participates in this replacement parts business. Copies of our components that are manufactured by
others are generally sold at lower prices for use on older machines and are generally acknowledged to be of lower quality than components we manufacture. We also face significant competition from manufacturers and distributors in the sale of
consumable replacement parts which we do not manufacture, including wire rope, non-specialized parts and electrical parts, as well as aftermarket services competition from these market participants and local machining and repair shops.

We have a variety of programs to attract large volume customers for our replacement parts. Although will-fitters engage in significant price
competition in parts sales, we believe that we possess non-price advantages over will-fitters. We believe that our engineering and manufacturing technology and marketing expertise exceed that of our will-fit competitors, who in many cases are unable
to duplicate the exact specifications of our replacement parts. Moreover, the use of replacement parts not manufactured by us can void the warranty on a piece of original equipment, which generally runs for one year, with certain components under
warranty for longer periods.

In recent years, we have received several large orders for the refurbishment and relocation of machines,
especially draglines. P&H also participates in this business, as do several smaller regional companies.

Customers

Multinational coal mining corporations make up the majority of our customer base. In recent years, our large and efficient machines have enabled our customers to reduce their operating costs while enhancing their sophistication for the use and understanding of the employed technology.

Over the past five years, our customers (and DBT’s prior to being acquired by us) have conducted their most significant operations in the United States, China, South Africa, Australia, Eastern and Western Europe and India. In the aggregate, sales of our underground mining original equipment were $737.6 million and $448.3 million in 2008 and 2007, respectively, and sales of our aftermarket parts and services were $487.9 million and $238.0 million in 2008 and 2007, respectively.

We do not consider ourselves to be dependent upon any single customer, although on an annual basis a single customer may account for a meaningful percentage of our sales, particularly original equipment sales. In 2008, New World Resources accounted for approximately 19% of our total underground mining sales. Our top five customers in 2008 collectively accounted for approximately 43% of our total underground mining sales. We believe this relatively high percentage reflects the recent consolidation within the mining industry.

Customers

FACE="Times New Roman" SIZE="2">Multinational coal mining corporations make up the majority of our customer base. In recent years, our large and efficient machines have enabled our customers to reduce their operating costs while enhancing their
sophistication for the use and understanding of the employed technology.

Over the past five years, our customers (and DBT’s prior to
being acquired by us) have conducted their most significant operations in the United States, China, South Africa, Australia, Eastern and Western Europe and India. In the aggregate, sales of our underground mining original equipment were $737.6
million and $448.3 million in 2008 and 2007, respectively, and sales of our aftermarket parts and services were $487.9 million and $238.0 million in 2008 and 2007, respectively.

Customers

Over the past five years, DBT’s customers have conducted their most significant operations in the United States, China, South Africa, Australia, Eastern and Western Europe

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and India. Multinational coal mining corporations make up the majority of our customer base. In recent years, DBT’s large and efficient machines have enabled its customers to reduce their operating costs while enhancing their sophistication for the use and understanding of the employed technology. No one customer accounted for 10% or more of our underground mining sales in 2007. In 2006, the Shenhua Group accounted for approximately 14% of DBT’s sales.

Customers

FACE="Times New Roman" SIZE="2">Over the past five years, DBT’s customers have conducted their most significant operations in the United States, China, South Africa, Australia, Eastern and Western Europe

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and India. Multinational coal mining corporations make up the majority of our customer base. In recent years, DBT’s large and efficient machines have
enabled its customers to reduce their operating costs while enhancing their sophistication for the use and understanding of the employed technology. No one customer accounted for 10% or more of our underground mining sales in 2007. In 2006, the
Shenhua Group accounted for approximately 14% of DBT’s sales.

Customers

           Most of our customers are large multinational corporations with operations in the various major surface mining markets throughout the world. In recent years, customers have reduced their operating costs by employing larger, more efficient machines such as those we produce and have become increasingly sophisticated in their use and understanding of technology. Our focus on incorporating advanced technology such as AC drives and advanced controls has increased customer adoption of our product offerings. Further, we believe these developments have contributed to increased demand for our aftermarket parts and service since we are well equipped to provide the more sophisticated parts, product technical knowledge and service required by customers who use more complex and efficient machines.

           Over the past five years, our customers have conducted their most significant operations in the United States, South America, South Africa, Australia, Canada, China and India. We expect China and India to experience the most growth in surface mining in the future. In the aggregate, sales of our machines were $255.7 million, $180.6 million and $132.8 million and sales of our aftermarket parts and services were $482.3 million, $394.4 million and $321.4 million in 2006, 2005 and 2004, respectively. Our customers use our aftermarket parts and services because our high quality, reliable and durable products, and services that are well suited to the long productive lives of our machines. However, some surface mine operators may find it more economical to buy lower quality and less durable parts from will-fitters for equipment that is near the end of its useful life.

           Our customers operate under a high fixed cost structure. Small savings on the initial purchase of machines may be offset by less efficient operations and greater down time. Furthermore, our customers’ operations are often conducted in remote areas and the large capital investment and long lead time associated with the purchase and erection of a machine encourages many customers to select more reliable and efficient machines and to keep these machines in continuous operation for as long as possible. As a result, our customers are focused on quality as well as price and expect us to offer comprehensive aftermarket parts and services to increase efficiency and reduce down time.

           We do not consider ourselves to be dependent upon any single customer, although on an annual basis a single customer may account for a meaningful percentage of our sales, particularly machine sales. In 2006, 2005 and 2004, one customer, BHP Billiton, accounted for approximately 13%, 14%, and 12%, respectively, of our sales. Our top five customers in each of 2006, 2005 and 2004 collectively accounted for approximately 40%, 38% and 36%, respectively, of our annual sales. We believe this trend reflects the recent consolidation within the mining industry.

Customers

                Most of the Company’s customers are large multinational corporations with operations in each of the major surface mining markets. In recent years, customers have reduced their operating costs by employing larger, more efficient machines such as those produced by the Company and have become increasingly sophisticated in their use and understanding of technology. The Company’s focus on incorporating advanced technology such as AC drives and advanced controls has increased customer adoption of the Company’s product offerings. Further, the Company believes these developments have contributed to increased demand for its aftermarket parts and service since the Company is well equipped to provide the more sophisticated parts, product technical knowledge and service required by customers who use more complex and efficient machines.

                Over the past five years, the Company’s customers have conducted their most significant operations in the United States, South America, South Africa, Australia, Canada, China and India. The Company expects China and India to experience the most growth in surface mining in the future. In the aggregate, customers spent $180.6 million, $132.8 million and $65.6 million on the Company’s OEM machines and $394.4 million, $321.4 million and $272.1 million on aftermarket parts and services in 2005, 2004 and 2003, respectively. These amounts are projected to increase in 2006 as OEM machine sales increases are driven by customer expectations of sustained strength in the copper, coal, oil sands and iron ore markets, ongoing and rapid industrialization in China and other parts of the developing world, demand for minerals in the developed world and the rising cost of non-coal energy sources. Customers’ purchases of OEM products may lag behind such increases in commodity prices because of the time needed to acquire the appropriate mining permits and establish the relevant infrastructure. Aftermarket sales are expected to increase as customers continue the trend of utilizing the Company parts and services in a broader range of applications on their installed base of equipment. The Company’s customers use the Company’s aftermarket parts and services because the Company’s high quality, reliable and durable products and services are well suited to the long productive lives of its OEM machines. However, some surface mine operators may find it more economical to buy lower quality and less durable parts from will-fitters for equipment that is near the end of its useful life.

                The Company’s customers operate under a high fixed cost structure. Small savings on the initial purchase of OEM machines are lost if they lead to less efficient machines and greater down time. Furthermore, their operations are often conducted in remote areas and the large capital investment and long lead time associated with the purchase and erection of a machine encourages customers to select reliable and efficient machines and to keep these machines in continuous operation for as long as possible. As a result, customers are focused on quality as well as price and expect the Company to offer comprehensive aftermarket parts and services to increase efficiency and reduce down time.

                The Company does not consider itself to be dependent upon any single customer, although on an annual basis a single customer may account for a meaningful percentage of sales, particularly new machine sales. In 2005, 2004 and 2003, one customer, BHP Billiton, accounted for approximately 14%, 12%, and 17%, respectively, of the Company’s sales. The Company’s top five customers in each of 2005, 2004 and 2003 collectively accounted for approximately 38%,

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