Komatsu completes Joy Global purchase

Komatsu Mining has completed the  $3.7bn acquisition of Joy Global.

Komatsu says it will keep the Wisconsin mining equipment company’s headquarters in Milwaukee.

Joy Global will be renamed Komatsu Mining Corporation 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,” said Tetsuji Ohashi, president, Komatsu, in a statement.

“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.”

Komatsu Mining Corp. will be led by Jeffrey Dawes, formerly leader of Komatsu Latin America. Dawes and the management team will be based in Milwaukee.

Joy Global shares will be delisted from the NYSE and will no longer be publicly traded.

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