Joy Global Finalizes Monabert Acquisition

June 9, 2015
GX_Latest

From www.dieselprogress.com:

Joy Global closed on its purchase of Montabert on June 1, 2015 for €110 million, subject to a working capital adjustment. Net sales for the last twelve months ended March 31, 2015 for Montabert were approximately $100 million.

“In this regard, we are pleased to announce our acquisition of Montabert S.A.S. from Doosan Holding France S.A.S. Montabert specializes in the design, production and distribution of high quality hydraulic rock breakers, pneumatic equipment, drilling attachments, drifters and related parts and tools,” said Joy said CEO Ted Doheny. “This acquisition represents an important step in expanding product and service capabilities for hard rock mining, tunneling and rock excavation, further diversifying the company’s commodity and end market exposures. The Montabert product line will complement our existing fleet of hard rock equipment and leverages our global service center infrastructure providing long-term value to our shareholders.”