Coal Age

MAY 2017

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42 www.coalage.com May 2017 suppliers news Wisconsin Welcomes Komatsu Mining Recently, executives from Japan's Komat- su Ltd., Milwaukee's mayor and Wiscon- sin's governor formally cut the ribbon in a ceremony that launched the subsidiary Komatsu Mining Corp. The subsidiary is comprised primar- ily of former U.S.-based mining machin- ery 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. "We are happy to welcome Komat- su Mining Corp. to our global family and look forward to working together to offer our customers our full line of mining solu- tions," Tetsuji Ohashi, CEO, Komatsu Ltd., said. "We are committed to creating great- er value for our customers with advanced technology and innovative solutions." Politicians credited the skills and eth- ics of Joy workers as the draw for Komatsu. "The fact that Komatsu is making this kind of investment is a reflection upon the quality of the work done here and on the men and women that make some of the best products in the world every day," Gov. Scott Walker said. "I think this is good for the employees here." Komatsu spokeswoman Caley Clin- ton, formerly of Joy Global, said the buy- out provided job security to the more than 10,000 former Joy employees. "It has been a tough market," she said. "Employees are excited about this next chapter and be- ing part of a larger organization, and still based here in Milwaukee." Ohashi said Komatsu Ltd. is forecast- ing both commodities and the mining ma- chinery sector to rebound soon. "We are expecting the mining market will bottom out in the near future," he said. Joy Global started in 1919 as an under- ground mining machinery manufacturer based in Pennsylvania. It primarily served coal miners. Started in 1921, Komatsu manufactures a range of heavy machinery for use in several sectors. It reported sales of $16.3 billion for the fiscal year ending March 31. 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 ex- pected to close in the first quarter of 2018, will create one strong supplier of under- ground coal mining equipment in Poland that can also compete with others abroad. "Over the past few months, we have prepared an integration plan, taking into consideration all business, operational and social aspects of the transaction. I am convinced that its effective implementa- tion will make it possible to optimally use At center, from left to right, Komatsu Mining Corp CEO Jeffery Dawes, Komatsu Ltd. CEO Tetsuji Ohashi, Wisconsin Gov. Scott Walker and Milwaukee Mayor Tom Barrett cut a ribbon in a mid-May ceremony that launched Komatsu Mining Corp., comprised mainly of former U.S. manufacturer Joy Global.

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