Komatsu America Corp., a subsidiary of Komatsu Ltd., has completed its acquisition of Joy Global, a worldwide leader in mining solutions. Joy Global will retain its headquarters in Milwaukee and be renamed Komatsu Mining Corp., operating as a subsidiary of Komatsu. The company will continue to promote and invest in the P&H, Joy and Montabert product brands. The transaction was valued at approximately $3.7 billion, including Joy Global’s outstanding indebtedness.
Komatsu remains committed to directly servicing the global mining industry, and is focused on helping customers improve productivity through its products, services and technologies.
“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 and CEO of Komatsu.” We plan to build on the strength of our shared cultures, including our unwavering belief in safety first and our passion for providing innovation solutions.”
The acquisition beings more than 10,000 new employees to Komatsu, bring the company’s global total to more than 57,000. Komatsu plans to leverage the best practices of both companies while aligning the organization and operation for optimal customer support.
Komatsu Mining Corp. will be led by Jeffrey Dawes, former leader of Komatsu Latin America. Dawes and the management team will be based in Milwaukee.