Komatsu and Joy Global CEOs Reaffirm Commitment to Acquisition at MINExpo

Tetsuji (Ted) Ohashi, president and CEO of Komatsu Ltd., and Ted Doheny, president and CEO of Joy Global met this week at MINExpo International in Las Vegas and reaffirmed their commitment to pursue new innovations that drive customer benefits after Komatsu’s acquisition of Joy Global is complete. The two companies are working to finalize the transaction by mid-2017.

“Our customers are sharing very positive feedback about the agreement,” said Ohashi. “Some have approached us at MINExpo to congratulate us on our decision. We are working closely with Joy Global and relevant authorities to move the process forward.”

“Many of our customers and other business partners see the benefit of combining companies: a broader offering of products, systems and solutions across a wider scope of mining and construction applications,” said Doheny. “Both companies believe in having the best products, direct service, being operationally excellent, and having the best people in the world.”

The companies said the acquisition will create a broader line of mining and construction equipment for drilling, earthmoving, loading and hauling systems and solutions for both underground and surface mining. For example, Joy Global’s rope shovels will pair well with Komatsu’s large electric dump trucks, they said.

“The synergistic collaboration between the companies will drive our innovation and enhance our capacity to provide quality products and solutions that will improve the safety and productivity of mining operations,” added Ohashi. “We will strive to become an even better, more invaluable partner for our customers.”