Komatsu aquires Joy Global and its brands 22 Jun 2017

Major construction equipment company Komatsu of Japan has completed its US$3.7 billion acquisition of Joy Global Inc of the USA. Continuing to operate from its international headquarters in Milwaukee, heavy construction and mining equipment company Joy Global is renamed Komatsu Mining Corporation following the acquisition and will operate as a subsidiary of parent company Komatsu. Joy brings to the acquisition its previously acquired brands P&H of the USA and Montabert of France. Komatsu Mining will be led by Jeffrey Dawes, formerly leader of Komatsu Latin America.

Komatsu plans to leverage the best practices of both companies. “The combination of our Komatsu-brand surface mining equipment with the Joy, P&H, and Montabert brands will build on the strength of our shared belief in safety first and our passion for providing innovative solutions and services to our surface and underground construction and mining customers,” said Tetsuji Ohashi, President and CEO of Komatsu.

The close of the transaction adds 10,000 staff to the Komatsu team bringing the global total to more than 57,000 employees. At close of the acquisition transaction, Joy Global shares were delisted from the New York Stock Exchange and are no longer publicly traded.

Komatsu was established in Japan in 1921 and is a diversified provider of industrial-use products and services. Joseph Joy formed Joy Mining Machinery in the early 1900s. P&H, a company formed by partners Alonzo Pawling and Henry Harnischfeger in Milwaukee in the late 1800s was bought Joy Mining Machinery in 1994 with Joy becoming owner of P&H after a financial restructure in 2001. Montabert was established in Lyon in 1921 and pioneered hydraulic hammers, rock breakers, drilling drifters. It was acquired by Joy Global in 2015 from its then owner Doosan Infracore of South Korea.

The official launch of Komatsu Mining Corporation in Milwaukee was celebrated in May 2017 and was attended by Komatsu President and CEO Ohashi, Komatsu Mining President and CEO Dawes, Wisconsin Governor Scott Walker, Milwaukee Mayor Tom Barrett, West Milwaukee Village President John Stalewski and Japanese Consulate representative Keizo Shirakura.

Range of Komatsu equipment on offer

“Uniting our global teams brings endless opportunities for our customers, employees and the industry,” said Dawes. “We are pleased to keep the headquarters of Komatsu Mining in Milwaukee which has been and will continue to be a great home to us as we move forward together as part of the Komatsu organization.”