ME home
 
  SME FaceBook SME Twitter SME LinkedIn RSS Feed

Subscriber or
SME Member Log On

WEB-ONLY CONTENT

Go to SME eNEWS

MINING INDUSTRY EVENTS

ALTA 2018 Nickel-Cobalt-Copper, Uranium-REE & Gold  - Conference
May 19, 2018 - May 26, 2018
Filtered, Paste & Thickened Tailings  - Seminar
Jun 5, 2018 - Jun 8, 2018
SMRI Spring 2018 Technical Conference  - Conference
Jun 17, 2018 - Jun 18, 2018
2018 North American Tunneling Conference  - Conference
Jun 24, 2018 - Jun 27, 2018

METAL PRICES


Au
Ag
Pt
Pd
Ni
Cu
Al
Pb

AGGREGATES
AND MINERALS
MARKETPLACE


http://aggregatesmineralsmarketplace.com
The Mining Engineering, SME and NSSGA
Online Buyers Directory Site
The Online Global Mining and Minerals Library Site

Joy Global to acquire Mining Technologies International
April 21, 2014

Mining equipment maker Joy Global Inc. announced that it will acquire some of the assets of Mining Technologies International Inc. for $46.4 million, the Journal Sentinel reported.

Joy Global said it expects the acquisition to add to earnings in 2015, and to be completed within 90 days if all conditions for the deal are met.
Mining Technologies is a Canadian manufacturer of underground hard rock mining equipment. Joy Global said it will acquire "substantially all" of the assets associated with Mining Technologies' hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. Fiscal 2013 revenue for these product lines was about $90 million.

"This acquisition represents an exciting opportunity as we execute on our growth strategy to expand our underground mining product lines into the hard rock markets including nickel, potash, palladium, platinum, gold and copper," said Ted Doheny, Joy Global's president and chief executive officer.

Joy said in September it was laying off as many as 200 manufacturing plant workers in Milwaukee in response to a global slowdown in the mining industry that cut deeply into equipment sales. The company reported a 66 percent drop in quarterly earnings in early March, but said demand from miners for maintenance work was returning after more than a yearlong, industry wide struggle with a coal glut and weak prices.