Suppliers News - May 2017

Wisconsin Welcomes Komatsu Mining

Recently, executives from Japan’s Komatsu Ltd., Milwaukee’s mayor and Wisconsin’s governor formally cut the ribbon in a ceremony that launched the subsidiary Komatsu Mining Corp.

The subsidiary is comprised primarily of former U.S.-based mining machinery and solutions company Joy Global. Komatsu Ltd. acquired Joy Global on April 5 for $3.7 billion. Komatsu Mining Corp. is headquartered in Milwaukee.

Executives said they were satisfied with the acquisition.

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 FAMUR Takes Over Kopex Group

FAMUR S.A. offered to purchase the 65.8% of Kopex S.A. it did not already own for PLN 204 million ($53 million). The Kopex acquisition is a breakthrough in the development of the FAMUR Group, the company said. The transaction, which is expected to close in the first quarter of 2018, will create one strong supplier of underground coal mining equipment in Poland that can also compete with others abroad.

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EFD Announces 100% Growth in Testing, Technical Services Business

Eriez Flotation Division (EFD) announced its technical services business has doubled since 2015. Eriez maintains an assortment of bench and pilot-scale equipment for both laboratory and in-field evaluations. EFD conducts on-site testing for clients at its 15,000-ft2 Central Test Lab (CTL) which is located within the Eriez Wager Road plant in Erie, Pennsylvania.

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Joy Global will be Renamed Komatsu Mining, Headquarters to Remain in Milwaukee

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, Wisc., Joy Global will be renamed Komatsu Mining Corp. and operate as a subsidiary of Komatsu. The company said it will continue to promote and invest in the P&H, Joy and Montabert product brands.

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Joy reports mixed Q1 numbers, outlook

Joy Global’s first quarter numbers were mixed, with increases in bookings but a decline in sales. The company valued its first quarter 2017 service bookings at $524 million, up 21% over the same period last year. The company reported total bookings of $615 million, an increase of 12%. Net sales fell $498 million, or 5%.

Bookings for underground mining machinery increased 14% over the same period last year. Original equipment orders decreased 28%. Net sales for underground mining machinery decreased 8%. Bookings for surface mining equipment increased 12%. Original equipment orders increased 19%. Net sales for surface mining equipment decreased 4%.
Operating loss for the first quarter totaled $2 million, compared to $45 million in the same period last year.

CEO Ted Doheny said he does not expect the trend in increased production levels to continue. “The mining industry remains cautious with overall capital expenditures still projected to decline in 2017,” he said. “While there is evidence the deferred maintenance cycle on installed equipment is coming to an end, investment in new capacity remains slow. Only projects that deliver a step change in productivity are proceeding.”

Doheny said he expects the Komatsu merger to close at the latest by mid-2017. The merger is subject to, among other things, stockholder approval and the resolution of any waiting period.

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SUPPLIERS NEWS - December 2016


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AMR to Acquire PEMCO

AMR Inc. has signed a definitive agreement to acquire PEMCO Corp., a design, engineering, and manufacturer of electrical and power distribution equipment in Bluefield, Virginia. The company specializes in power centers, substations, dry-type transformers, industrial modular buildings, custom power panels and ground check/ground fault protection devices. The acquisition will combine AMR’s global sales network and electronic monitoring, control and communications product lines with PEMCO’s electrical expertise.

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