Deere to acquire Wirtgen Group for €4.6 billion

US  machinery giant aiming to establish leadership position in road construction equipment

Deere to acquire Wirtgen Group for €4.6 billionDEERE & Company (John Deere), the Illinois-based agricultural equipment manufacturers, have signed a definitive agreement to acquire the Wirtgen Group for €4.357 billion in cash. Including debt and other considerations, the total enterprise value for the deal is €4.6 billion (US$5.2 billion). Continue reading “Deere to acquire Wirtgen Group for €4.6 billion”

New Liebherr boom pushes the limits

By Alex Dahm for KHL.com
27 April 2017

Liebherr's SX boom system for its 750 tonne lattice boom models
Liebherr’s SX boom system for its 750 tonne lattice boom models

Liebherr’s new SX boom gives more capacity and increases lifting height for its 750 tonne capacity lattice boom crane models. It moves the LR 1750/2 crawler and LG 1750 truck crane into the 1,000 tonne class for wind turbine erection, Liebherr said.

Turbines with a hub height of 165 metres and component weights Continue reading “New Liebherr boom pushes the limits”

Komatsu acquisition of Joy Global completes

Komatsu America Corp, a subsidiary of Komatsu Ltd, has completed its acquisition of Joy Global Inc, a worldwide leader in high-productivity mining solutions. Retaining its headquarters in Milwaukee, Joy Global will be renamed Komatsu Mining Corp and operate as a subsidiary of Komatsu. Continue reading “Komatsu acquisition of Joy Global completes”

Terex Trucks partners with Ascendum in Turkey

 To lay a strong foundation for the expected long-term growth in Eurasia, Terex Trucks has struck an alliance with distinguished equipment supplier Ascendum Makina. With customers active in mining and other industries, Ascendum Makina will take charge of distributing and supporting the Scottish manufacturer’s articulated and rigid dump trucks throughout Turkey.

Mahir Hocaoglu, CEO at Ascendum Makina, commented: “As a company dedicated to clients, it’s important to build partnerships with manufacturers who provide proven products, and we believe Terex Trucks is exactly that. The total market in Turkey has a lot of potential, and with the addition of Terex Trucks to our portfolio we will be able to offer customers a wider range of products, as well as the highest standard of aftersales across our 19 branches in Turkey.”

Founded in 1959, the Ascendum Group is currently one of the world’s largest distributors of Terex Trucks’ parent company Volvo Construction Equipment. With global operations in countries such as Angola, Mexico, Portugal, Spain and the USA, Ascendum Makina has been present in Turkey for nearly 20 years.

Defined as a newly industrialised nation, Turkey has an abundance of natural resources, including coal, gold, and oil, with the transcontinental country producing around 60 different minerals – with boron salts being its richest. Turkey is also a leading producer of motor vehicles, electronics, agricultural products and construction materials. An emerging economic force, Turkey is a member of the MINT (Mexico, Indonesia, Nigeria and Turkey) countries as it is expected to show growth and deliver significant returns for investors in the coming decade.

The construction of Istanbul’s third airport, which is set to be the biggest international terminal in the world, is just one of a handful of ambitious projects underway in Turkey. Others include the Istanbul Canal project, the production of 500,000 homes and the Trans-Anatolian Natural Gas Pipeline (TANAP) venture. “To aid the country’s brightening prospects, Terex Trucks’ off-highway equipment will have no problems showcasing its versatility in the country’s varied sectors.”

“Designed for heavy-duty hauling operations, Terex Trucks’ machines “present the perfect balance of power, torque, and effective gearing, coupled with optimum weight distribution to move more material in less time, with less fuel, even in the toughest terrains. Made in Motherwell, Scotland, the reliable rigid dump trucks – the TR45, TR60, TR70, and TR100 – offer payloads ranging from 41 to 91 t, while the three models of articulated haulers – TA250, TA300, and TA400 – provide payloads from 25 to 38 t.”

Guy Wilson, EMEA Director at Terex Trucks, said of the agreement: “A strong and dynamic organisation, Ascendum Makina is a leader in the distribution of construction equipment and has a team of skilled technicians to assist aftersales support in Turkey. The company’s ethos of providing unmatched customer satisfaction is well suited to Terex Trucks’ philosophy, and we look forward to a fruitful future.”

Hitachi follows Bradken acquisition with H-E Parts buy

By Paul Moore, 23rd December 2016 on IM-Mining

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”

Komatsu buys Joy Global

Joy Global Inc, the global supplier of high-productivity mining solutions, has announced that its Board of Directors has unanimously approved a definitive merger agreement under which Komatsu America Corp, a subsidiary of Komatsu Ltd, will acquire Joy Global in a transaction valued at approximately $3.7 billion, including Joy Global’s outstanding indebtedness. Continue reading “Komatsu buys Joy Global”