The CEOs of Komatsu and Joy Global met at MINExpo 2016 in Las Vegas, affirming their commitment to mining innovation. Earlier this year, Joy Global accepted a takeover offer from Komatsu for US$3.7 billion. The transaction is expected to complete by mid-2017.
“Our customers are sharing very positive feedback about the agreement,” said Tetsuji Ohashi, President and CEO of Komatsu Ltd. “Some have approached us as MINExpo to congratulate us on our decision.”
“We are working closely with Joy Global and relevant authorities to move the process forward,” added Ohashi.
According to the two companies, the acquisition will offer several benefits to customers, including a broader line of mining and construction equipment for drilling, earthmoving, loading and hauling systems. Only Caterpillar offers a similarly diverse mining equipment line up.
“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 Ted Doheny, President and CEO of Joy Global.
“With strengthened capabilities and a continued focus on solving our customers’ toughest challenges, we look forward to working together to advance the mining industry.”
Read the article online at: https://www.worldcoal.com/mining/07102016/ceos-of-joy-global-and-komatsu-meet-at-minexpo/