Doosan Infracore has sold Montabert, its French construction and quarrying equipment and attachments manufacturer to Joy Global, U.S.-based mining equipment manufacturer for €110 million (about U.S. $124.5 million). The South Korea-based Doosan said it is selling non-core assets to focus on its main businesses and would use the funds to pay down refinanced debt on U.S. based equipment manufacturer Bobcat, which Doosan acquired in 2007. 

Montabert, based in Lyon, France, is a leading manufacturer of hydraulic attachments including breakers and rock drills, recording annual revenue of about $100 million.  

Job Global is one of the world’s leading manufacturers of mining-related machinery with annual revenues of more than $3 billion.

“Despite tough markets, we remain committed to taking prudent actions to improve our business during this cyclical downturn and bolster our strategic position to be a first-tier supplier to the underground hard rock mining market,” said Joy Global president and CEO Ted Doheny. “This acquisition represents an important step in expanding product and service capabilities for hard rock mining, tunneling and rock excavation, further diversifying the company’s commodity and end market exposures. The Montabert product line will complement our existing fleet of hard rock equipment and leverages our global service center infrastructure providing long-term value to our shareholders.”