Joy Buys Continental Conveyors
Tuesday, January 8th, 2008Mining Equipment heavy-weight, Joy Global, has announced that it has agreed to buy Continental Global, the world-wide manufacturer of conveyor systems. The deal which is worth US$270 million is expected to be finalised within the first quarter 2008.
Mike Sutherlin, Joy Global’s President and Chief Executive Officer said that the purchase of Continental would expand the range of products and services they can deliver to their customers, and was consistent with their strategy of adding related and highly synergised product lines. He added that Continental’s conveyor systems fit closely with their surface and underground and businesses, allowing Joy to leverage their strong global presence in both segments.
From other comments made, it appears that Joy is looking to further integrate their face mining systems with outbye conveyor systems in order to further improve system reliability. If this truly happens, it would surely be welcomed by all longwall and development superintendents.
Let’s see how all this progresses.
Calvin Close
Managing Director
Australian Mining Reference
Further links:
Australian Mining Business Directory
- Underground Coal Mining Equipment
- Open Cut Mining Equipment
- Hard Rock Mining Equipment
- Conveyor Equipment