Ted Ohashi (left) and Ted Doheny shake hands over the acquisition of Joy Global by Komatsu.
At MINExpo 2016 in Las Vegas, Tetsuji (Ted) Ohashi, President and CEO of Komatsu Ltd. and Ted Doheny, President and CEO of Joy Global met to discuss the decision for Komatsu to acquire Joy Global. The transaction is expected to be finalized by mid 2017, and to broaden the product range offered by Komatsu to its customers for mining and construction applications.
In addition to a broader line of equipment for drilling, earth-moving, loading, and hauling systems used for underground and surface mining, the partnership will enhance global customer support. “Our customers are sharing very positive feedback about the agreement. Some have approached us at MINExpo to congratulate us on our decision,” Ohashi said. “We are working closely with Joy Global and relevant authorities to move the process forward.”
“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,” Doheny said. “Both companies believe in having the best products, direct service, being operationally excellent, and having the best people in the world.”