Joy Global’s China Mining Machinery entered into an agreement to purchase all outstanding shares of Wuxi Shengda, with the deal expected to close during the fourth quarter of this year, pending approvals.

“The acquisition of Wuxi Shengda provides us with a foothold in the China market for domestic equipment and will allow us to better serve that country's local and regional mining industry," Joy Global president and chief executive Mike Sutherlin said.

Joy Mining president Ted Doheny said there were opportunities to grow revenues and margins at Wuxi Shengda by enhancing its existing product offering through newer shearer technology, improving operational efficiencies and establishing Joy’s service/aftermarket capabilities.

Wuxi Shengda primarily serves provincial mining companies and employs about 450 at its facility in Wuxi, China.

Earlier this year, Joy completed its acquisition of Continental Global and its parent company, NES Investment, in a $270 million deal.

“We will use our very strong aftermarket infrastructure and life-cycle management programs around the world to support the Continental conveyor equipment and add value by improving the reliability of the entire system of equipment from the cutting face to the processing or loading facility," Sutherlin said at the time.

“As a result, I expect Continental to make significant contributions to our future operational performance and growth opportunities."