Joy Global stockholders overwhelmingly approve acquisition by Komatsu

Joy Global stockholders have overwhelmingly voted to approve the company’s pending acquisition by Komatsu America Corp.

“We are pleased with the outcome of today’s vote and appreciate the support we have received from Joy Global stockholders for the Komatsu transaction,” Continue reading “Joy Global stockholders overwhelmingly approve acquisition by Komatsu”

Hitachi Construction Machinery buying Bradken

Bradken has agreed to a takeover bid by Japan’s Hitachi Construction Machinery (HCM) in a deal analysts say may indicate the worst of the mining downturn has passed. Yuichi Tsujimoto, HCM President said his company believes Bradken’s “businesses are complementary with our mining equipment services business. Both companies leveraging each other’s global network will enable us to strengthen our combined businesses and enhance our earnings.” Continue reading “Hitachi Construction Machinery buying Bradken”

Hitachi Construction Machinery Co. plans to buy Australia’s Bradken Ltd., in its largest ever purchase.

Hitachi Construction Machinery offers $529 million for Bradken
Hitachi Construction Machinery offers $529 million for Bradken
Hitachi excavators are sold at an industrial equipment auction in Dunnigan, California.

Hitachi Construction Machinery Co., the world’s biggest maker of giant excavators, has offered 689 million Australian dollars ($529 million) to buy Australia’s Bradken Ltd. The purchase would be its biggest ever and is likely to boost profit by about 10 percent, Nomura Securities Co. said.

Continue reading “Hitachi Construction Machinery Co. plans to buy Australia’s Bradken Ltd., in its largest ever purchase.”

Komatsu and Joy Global CEOs talk commitment to mining innovation at MINExpo

Last week Tetsuji (Ted) Ohashi, President and CEO of Komatsu Ltd, and Ted Doheny, President and CEO of Joy Global Inc, met in Las Vegas. Both companies had a major presence at this year’s show. In July the two companies announced an agreement in which Komatsu will acquire Joy Global. During their meeting on September 26, Ohashi and Doheny reaffirmed their commitment to pursue new innovations that drive customer benefits after the acquisition is complete. The companies are working to finalize the transaction by mid-2017.
Continue reading “Komatsu and Joy Global CEOs talk commitment to mining innovation at MINExpo”