Komatsu, Joy Global Complete Acquisition Deal

Komatsu America Corp. completed its acquisition of Joy Global Inc. Retaining its headquarters in Milwaukee, Joy Global Inc. will be renamed Komatsu Mining Corp. and operate as a subsidiary of Komatsu. The company will continue to promote and invest in the P&H, Joy and Montabert product brands. Komatsu remains committed to directly servicing the global mining industry and through its products, services and…

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FLSmidth, Chinese Manufacturer in Joint Venture

FLSmidth and Northern Heavy Industries Group Co., Ltd (NHI Group), based in Shenyang, China, have signed an agreement to enter into a joint venture – with an equal amount of shares – for the design and supply of mining equipment targeting the mid-market segment. The joint venture will be established with its own board of directors and management under the…

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Cat is Up, But Down

July 29, 2014 – Caterpillar’s second-quarter net income rose 4.1 percent, as the company earned $999 million, versus $960 million in last year’s second quarter. However revenue for the Peoria, Ill.-based company dropped 3.2 percent to $14.15 billion from $14.62 billion.The big issue? Mining equipment. That category fell 29 percent from a year ago in the second quarter. Sales to…

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Komatsu, GE Form Company

February 3, 2014 – Komatsu and GE Mining, a division of GE Transportation, announced a new collaboration to develop next generation mining equipment. By combining their expertise in mining equipment and propulsion systems, the companies will help meet the needs of customers and partners worldwide, with an initial focus on developing solutions to increase customer productivity and safety for underground mines. The new company,…

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