{"id":1672,"date":"2016-07-21T21:50:27","date_gmt":"2016-07-21T21:50:27","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1672"},"modified":"2016-07-21T21:50:27","modified_gmt":"2016-07-21T21:50:27","slug":"komatsu-buys-joy-global","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/21\/komatsu-buys-joy-global\/","title":{"rendered":"Komatsu buys Joy Global"},"content":{"rendered":"
Posted by Paul Moore<\/a><\/span> On July 21, 2016<\/span> 0 Comment<\/a><\/span><\/div>\n
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Joy Global Inc, the global supplier of high-productivity mining solutions<\/span>, has announced that its Board of Directors has unanimously approved a definitive merger agreement under which Komatsu America Corp<\/span>, a subsidiary of Komatsu Ltd, will acquire Joy Global<\/span> in a transaction valued at approximately $3.7 billion, including Joy Global\u2019s outstanding indebtedness.<\/p>\n

Komatsu intends to operate Joy Global as a separate subsidiary of Komatsu and retain the strength of the Joy Global brand names.<\/span> The companies will align the organisation and operation for optimal customer support from Joy Global\u2019s headquarters in Milwaukee, Wisconsin<\/span>. \u201cKomatsu and Joy Global\u2019s products and services are highly complementary and the combined organization will continue to focus on safety, productivity and life cycle cost improvement for customers. Komatsu plans to leverage both companies\u2019 leading technologies to pursue product and service innovation to enhance mine safety and productivity. In addition, the companies employ complementary strategies and are committed to an integrated direct sales and service model.\u201d<\/p>\n

\u201cThis is a compelling transaction that delivers substantial and certain value to our stockholders as well as expanded options for our customers and employees going forward,\u201d said Ted Doheny, President and Chief Executive Officer of Joy Global. \u201cWe believe this is the right partnership to meet the evolving needs of our customers while furthering our ability to lead the mining industry with game-changing technologies and best-in-class products. Joy Global\u2019s Board of Directors, in making its determination, considered the challenging market conditions the company believes are likely to persist. The mining industry continues to face cyclical headwinds from oversupplied commodities<\/a> and reduced end user demand resulting in cash<\/a> flow restrictions for most producers, creating an increasingly challenging environment. We are also seeing structural changes in the US and China coal industry.<\/p>\n

\u201cOur companies share similar cultures and values,\u201d Doheny continued, \u201cand we expect many Joy Global employees to benefit from exciting career<\/a> opportunities<\/a> as part of an even larger, more diversified company. On behalf of the Joy Global Board and management team, we thank our dedicated employees for their continued hard work and commitment to solving mining\u2019s toughest challenges.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Posted by Paul Moore On July 21, 2016 0 Comment Joy Global Inc, the global supplier of high-productivity mining solutions, has announced that its Board of Directors has unanimously approved a definitive merger agreement under which Komatsu America Corp, a subsidiary of Komatsu Ltd, will acquire Joy Global in a transaction valued at approximately $3.7 … Continue reading “Komatsu buys Joy Global”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-1672","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-qY","jetpack-related-posts":[{"id":1674,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/07\/21\/komatsu-and-joy-come-together-in-new-one-stop-shop-mining-oem\/","url_meta":{"origin":1672,"position":0},"title":"Komatsu and Joy come together in new one stop shop mining OEM","author":"yinghui","date":"July 21, 2016","format":false,"excerpt":"The biggest move in mining equipment supply consolidation since Cat bought Bucyrus was announced this week, as Joy Global Inc, the global supplier of high-productivity mining solutions, announced that its Board of Directors had unanimously approved a definitive merger agreement under which Komatsu America Corp, a subsidiary of Komatsu Ltd,\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2364,"url":"https:\/\/yinghuiinternational.com\/index.php\/2017\/05\/22\/earthmoving-equipment-giant-komatsu-has-completed-its-acquisition-of-renowned-extractive-equipment-company-joy-global\/","url_meta":{"origin":1672,"position":1},"title":"Earthmoving equipment giant Komatsu has completed its acquisition of renowned extractive equipment company Joy Global.","author":"yinghui","date":"May 22, 2017","format":false,"excerpt":"After officially acquiring Joy Global, Komatsu will now provide a full range of mining equipment. KOMATSU ACQUIRES JOY GLOBAL, EXPANDS MINING BUSINESS Posted May 15, 2017 | By Talia Paz \u2022 Staff Journalist Following a 2016 agreement to purchase Joy Global for USD$3.7 billion (AUD$4.9 billion), Komatsu has completed its\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2329,"url":"https:\/\/yinghuiinternational.com\/index.php\/2017\/04\/10\/joy-global-to-be-renamed-komatsu-mining\/","url_meta":{"origin":1672,"position":2},"title":"Joy Global to be renamed Komatsu Mining","author":"yinghui","date":"April 10, 2017","format":false,"excerpt":"Japanese based industrial machinery provider Komatsu has completed its acquisition of Joy Global, expanding its global mining services business. 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