Komatsu acquires Joy Global for US$3.7bn
First publishedon www.AggBusiness.com
Komatsu Mining has finalised its US$3.7 billion acquisition of Joy Global.
Komatsu says it will keep the Wisconsin, USA mining equipment company’s headquarters in Milwaukee.
Joy Global will be renamed Komatsu Mining Corporation and operate as a subsidiary of Komatsu.
“The combination of our Komatsu-brand surface mining equipment with the P&H, Joy and Montabert brands of surface and underground products will allow us to offer a complete range of mining solutions for our customers,” said Tetsuji Ohashi, president, Komatsu, in a statement.
“We plan to build on the strength of our shared cultures, including our unwavering belief in safety first and our passion for providing innovative solutions, to become an unrivalled mining solutions and services provider.”
Komatsu Mining Corp. will be led by Jeffrey Dawes, formerly leader of Komatsu Latin America. Dawes and the management team will be based in Milwaukee.
The close of the transaction adds to the Komatsu Mining team more than 10,000 people with a deep knowledge and experience in the mining industry. It takes Komatsu’s global total of employees to more than 57,000.