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February 27, 2013
12:08 EDTJOYJoy Global sees encouraging signs but not expecting 'near term impact'
The company CEO sees encouraging signs in the market but the impact of the turn in conditions will not impact the company in the 'near term.' "I think that we are seeing some encouraging but early signs of market improvement; however.. the impact on us is more likely to be on the horizon and around the corner so we don't expect it to have the near term impact and there for we'll continue to focus on reducing our cost and streamlining our business and that's going to allow us to respond better to those upside opportunities."
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April 11, 2014
16:26 EDTJOYJoy Global acquires certain assets of Mining Technologies International
Joy Global announced that it entered into a definitive agreement to purchase certain assets of Mining Technologies International for $51M Canadian dollars. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. The company is acquiring substantially all of the assets associated with MTIís hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines. MTI's fiscal 2013 revenues associated with these product lines were approximately $90M U.S. dollars. Excluding the impact of transaction costs and excess purchase accounting charges, the company expects the transaction to be accretive to earnings in 2015. Completion of the transaction is subject to customary closing conditions and is expected to occur within 90 days.
April 9, 2014
09:33 EDTJOYBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
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