Unlike Caterpillar’s Bucyrus buy there will be no slow move towards rebranding either. Instead Joy global will be renamed Komatsu Mining Corp and operate as a Komatsu subsidiary.
Komatsu has reaffirmed its commitment to continue to promote and invest in the P&H, Joy and Montabert product brands.
“The combination of our Komatsu-brand surface mining equipment with 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,” Komatsu CEO and president Tetsuji Ohashi said.
“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 unrivalled mining solutions and services provider.”
The close of the transaction adds more than 10,000 people with mining industry knowledge and experience. That will take Komatsu’s global headcount to more than 57,000.
Komatsu, which is very strong in the surface haul truck, hydraulic excavator and wheel loader markets will also gain a strong dragline, electric rope shovel, blasthole drills, crushing and conveying equipment, and an even larger wheel loader range. It will get the P&H L2350, the world’s largest wheel loader, which can load a 363t haul truck with iron ore in five passes.
However, more important will be the underground coal and hard rock capabilities Joy will bring it.
Not only will Komatsu get access to Joy’s longwall equipment, it will also gain its room and pillar mining tools. Caterpillar ceded that market to Joy last year, saying it would take the resources from that area and devote them to improving its longwall offerings.
Joy also unveiled its hard rock underground loader range at Minexpo last year. That loader uses the same switch reluctance drive technology that powers the L2350.
Komatsu Mining Corp will be led by former Komatsu Latin America head Jeffrey Dawes.
Dawes and his management team will be based in Joy’s old home town of Milwaukee, Wisconsin.
As part of the deal Komatsu is assuming Joy’s debt.
Once the deal closes Joy Global’s shares will be delisted from the New York Stock Exchange and another great mining name will be consigned to history.
