Komatsu America Corp. is in the early stage of integrating two companies after acquiring Joy Global Inc., and it is business as usual at this point, except a name change.
Komatsu America, a subsidiary of Komatsu Ltd., has changed the name of Joy Global to Komatsu Mining Corp.
“There are no immediate changes to how we do business. Bringing our companies together offers many exciting opportunities for growth,” said Caley Clinton, global public relations manager for Komatsu Mining Corp.
“We continue to honor all contracts and agreements with our customers and look forward to offering them an even stronger line of offerings as a result of this acquisition,” she said.
The Joy Global facility in Elko is now part of Komatsu America. Komatsu Equipment Co. also has a branch in Elko.
“As we study best practices worldwide during integration, we will be looking at optimal facility use and the best ways to leverage our teams, technologies and more,” Clinton said. “Our goal is to leverage the best practices of both companies to form a unique and unrivaled mining solutions and services provider, adding value to our customers around the world.”
The Elko Daily Free Press reports no layoffs are planned. Clinton said the employee count hasn’t changed, and employees will continue supporting customers “as we work to integrate our organization with the larger Komatsu corporation.”
Komatsu America announced in early April that the company’s acquisition of Joy Global was completed, and the now-named Komatsu Mining Corp. would keep its headquarters in Milwaukee, Wis. The transaction was valued at roughly $3.7 billion.
“As we grow Komatsu’s mining offerings, we will continue to promote and invest in the P&H, Joy and Montabert product brands, looking for opportunities to help customers improve productivity and safety in their operations worldwide,” Clinton said in an email.
Clinton said the acquisition adds more than 10,000 people to Komatsu with experience in the mining industry. That brings Komatsu Ltd.’s total number of employees worldwide to more than 57,000.
Komatsu provides shovels, dozers, loaders and haul trucks for mining and construction, parts and services, mining solutions, logistics, electronics, industrial machinery and vehicles and more.
According to Komatsu’s April announcement, Komatsu Mining will be led by Jeffrey Dawes, formerly the leader of Komatsu Latin America. Tetsuji Ohashi is president and chief executive officer of Komatsu Ltd., which is based in Tokyo.
Joy Global shares were delisted from the New York Stock Exchange and are no longer traded.
- By ADELLA HARDING Mining Quarterly Correspondent