Komatsu acquires Joy Global
Mining solutions company, Joy Global, to be renamed Komatsu Mining Corp. but will retain its headquarters in Milwaukee, WI.Komatsu America has recently completed its $A4.8 billion acquisition of international mining solutions company, Joy Global, effectively taking over its operations and brands which include P&H, Joy and Montabert.
Retaining its headquarters in Milwaukee, WI, Joy Global will be renamed Komatsu Mining Corp. 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," says Komatsu President and CEO, Tetsuji Ohashi.
"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 unrivaled mining solutions and services provider."
The acquisition means the addition of more than 10,000 people with expertise and experience in the mining industry to Komatsu's team, bringing the company’s global staff count to more than 57,000.
Komatsu Mining Corp. will be led by Jeffrey Dawes, formerly leader of Komatsu Latin America, who will be based in Milwaukee alongside the management team.
Joy Global shares will also be delisted from the New York Stock Exchange (NYSE) and will no longer be publicly traded.
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