Joy Global, a leading manufacturer of mining equipment, has a rich history that spans over a century. The company was founded in 1884 by William O. Bergin and Edwin H. Johnson.
In 2016, Joy Global's market value peaked at around $5.5 billion. The company's equipment was used in mines all over the world, from coal mines in the United States to iron ore mines in Australia.
Joy Global's acquisition by Komatsu was a significant move in the mining industry. Komatsu paid $3.7 billion for Joy Global in a deal that was completed in 2017.
Broaden your view: Komatsu Limited
Mergers and Acquisitions
Joy Global, a leading manufacturer of mining equipment, has a history of strategic mergers and acquisitions.
The company made its first major acquisition in 2007, purchasing P&H Mining Equipment for $717 million.
This move significantly expanded Joy Global's product line and capabilities.
Joy Global continued to expand its portfolio with the acquisition of LeTourneau Technologies in 2010 for $1.1 billion.
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LeTourneau added a range of products, including wheel loaders and haul trucks, to Joy Global's offerings.
In 2016, Joy Global acquired a majority stake in Komatsu America's mining equipment business.
This deal gave Joy Global a strong presence in the North American market and access to Komatsu's product lines.
Joy Global's mergers and acquisitions strategy has helped the company grow and diversify its product offerings.
Frequently Asked Questions
What does Joy Global do?
Joy Global specializes in designing and manufacturing mining equipment for surface and underground mining operations worldwide. Its products include machinery for cutting, crushing, loading, and conveying coal and industrial minerals.
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