Komatsu to acquire Joy Global
Rolling Meadows, Illinois-based Komatsu America Corp., has reached a deal to acquire mining equipment company Joy Global, Milwaukee, for $3.7 billion in an all-cash transaction. Following the completion of the deal, Joy will operate as a separate subsidiary of Komatsu.
The companies say they will align their respective organizations and operations for optimal customer support from Joy Global’s headquarters.
The deal is expected to close by the middle of 2017.
In a news release, Joy Global says the products and services of both companies are highly complementary, and the combined organization will continue to focus on safety, productivity and life-cycle cost improvement for customers.
Komatsu says it plans to leverage both companies’ technologies to pursue product and service innovation to enhance mine safety and productivity. In addition, the companies say they employ complementary strategies and are committed to an integrated direct sales and service model.
“This is a compelling transaction that delivers substantial and certain value to our stockholders as well as expanded options for our customers and employees going forward,” says Ted Doheny, president and CEO of Joy Global. “We believe this is the right partnership to meet the evolving needs of our customers while furthering our ability to lead the mining industry with game-changing technologies and best-in-class products.
“Our companies share similar cultures and values, and we expect many Joy Global employees to benefit from exciting career opportunities as part of an even larger, more diversified company,” Doheny continues. “On behalf of the Joy Global board and management team, we thank our dedicated employees for their continued hard work and commitment to solving mining’s toughest challenges.”
Morbark provides factory refurbishing and remanufacturing services
Morbark LLC, Winn, Michigan, has announced it will be placing a greater emphasis on providing forestry, recycling and tree care customers with the option of purchasing factory- refurbished and remanufactured equipment. Morbark says it has been restoring customer-owned equipment, trade-in machines and acquired units back to a field-ready state for many years. The company’s dedication of personnel and resources to this business initiative is in response to the increasing demand for this type of equipment.
To head the effort, Kevin Hills has been named remanufacturing business unit director. Hills has been with Morbark for 30 years and was most recently the dealer service consultant for the company.
Morbark will provide three levels of remanufactured equipment. They are:
- Rebuilt – Morbark rebuilt machines have been stripped to the frame and inspected throughout. Components with less than 50 percent wear life left are replaced, issues are repaired and the unit is given a complete clean, paint and decal service. These units come with a full 90-day parts warranty and engine warranty where applicable.
- Refurbished – A refurbished machine has had safety issues inspected/repaired, any obvious needs addressed and the whole unit is touched up. A 90-day 50/50 parts warranty is standard for a machine ready to produce.
- Used – A basic used machine has safety issues addressed, plus basic servicing as to filters, oils and knives/tips. The user can get started with this machine, refine the machine as he or she goes or even just use it as a back-up unit.
“These are all solid Morbark models with years of life left in them,” says Hills. “That’s one of the reasons people buy Morbark in the first place.”
“We also do custom service work,” Hills adds. “Whether you need minor repairs or a full tear-down rebuild, we can work with you in getting the most out of your equipment.”
Visit www.morbark.com/used for more information.
Atlas Copco Construction names new president
Rock Hill, South Carolina-based Atlas Copco Construction has appointed Scott Carnell as president of its U.S. division. Carnell has been assigned to lead the company in growing each of its product lines, including construction tools, portable energy and road construction equipment, within the contractor, dealer and rental industries across North America.
“Atlas Copco has always been committed to the success of this industry, which is also something I’m passionate about,” says Carnell. “I look forward to driving that commitment and building our support network in North America further.”
Carnell brings more than 30 years of industry experience to his role, the last 10 of which have been with Atlas Copco Construction. Just prior to his new role, Carnell was the president of Atlas Copco Construction Rental in North America, based in LaPorte, Texas.
Carnell said he looks forward to renewing relationships with the construction industry, including dealers and rental centers as well as with the Atlas Copco support team.
“It’s not just about me or Atlas Copco,” says Carnell. “It’s about the customers and what they need, Atlas Copco and the equipment it can provide them and our strong support team. I want to help bring that all together.”
Carnell will be based in Rock Hill where Atlas Copco’s new 180,000-square-foot manufacturing facility will open in the spring of 2017.
The new Leadership in Energy and Environmental Design (LEED)-certified space has been designed to help the company grow with customers’ demands and offer a wide reach of customer support.
“The company’s new, larger plant shows our continued investment in the North American market, and I look forward to seeing its impact,” comments Carnell. “We are not just talking about growing or being the best, we are putting the money and effort behind it so we can give customers here what they want and need to be successful.”
Carnell replaces Erik Sparby, who has accepted the role of general manager at the Atlas Copco Construction Greater China Customer Center in Shanghai.
Plexus Recycling Technologies launches at WasteExpo 2016
Plexus Recycling Technologies, Westminster, Colorado, was launched as a full line recycling solutions provider during WasteExpo 2016 in Las Vegas. The founding team seeks to bring advanced recycling technologies from around the world together in systems designed to solve entrenched problems.
Plexus Recycling Technologies will begin distribution of three new product lines: Andritz MeWa, which develops and manufactures recycling machines and turnkey solutions for the recycling of waste electrical and electronic equipment (WEEE), refrigerators, oil filters, household and domestic waste and used tires; Matthiessen, which specializes in bag opening and bale breaking; and ZenRobotics, a robotic sorting system, along with Komptech stationary equipment.
The company also had entered an agreement with Waste Treatment Technologies, Oedle, Germany, a supplier of waste treatment solutions, to collaborate on systems in North America and add a unique technology to the line of Plexus companies.
Rayco adds to dealership network
Rayco Manufacturing Inc., Wooster, Ohio, has recently added two companies to its nationwide dealer network: AgPro, Boston, Georgia, and Metroquip, Marietta, Georgia.
AgPro, a 36-location John Deere dealership with branches in Georgia, Florida, South Carolina and Texas, will be servicing the northern Georgia and Florida areas.
Metroquip will be servicing the northern Georgia area. Metroquip started in 1974 as a small tool rental center and had been at the same location for 36 years. In 1999, it moved to its current location. Since then, it has expanded to include new and used equipment sales.
“We are very excited to become a Rayco Dealer. Adding Rayco to our product offerings will be a great addition to our business and beneficial to both Rayco and Metroquip,” says Keith Clack, general manager of Metroquip.
Metroquip also represents Mustang, Wacker and Avant.
Bandit Industries hires new CEO
Bandit Industries, Remus, Michigan, has hired John Mocny to serve as the company’s chief executive officer. Mocny joined the Bandit team in February 2016, bringing decades of engineering and management experience from previous leadership roles with General Motors and Caterpillar.
Mocny holds a Bachelor of Science degree in mechanical engineering from Michigan State University, and a Master of Engineering Science and Management degree from Rensselaer Polytechnic Institute in New York.
Bandit owners Mike Morey Sr., Dianne Morey and Jerry Morey remain involved with the operations and management of the company, with Jerry Morey continuing to serve as president of Bandit Industries.
“We decided to bring in a CEO to take better advantage of the opportunities before us,” says Bandit Industries President Jerry Morey. “It was important for us to find someone with exceptional leadership experience, but also someone who understands the manufacturing side and can relate to our customers.”
Manitou offers new protection plan for Gehl and Mustang equipment
Manitou Americas Inc., West Bend, Wisconsin, introduces XPRT protection plan. The protection plan is an all-new extended protection program specifically designed for Gehl and Mustang branded equipment.
“XPRT protection plan offers wider coverage options, longer coverage terms and a better value for the end-customer than the previous Power protection plan,” says David Harrison, director of after sales, Manitou Americas Inc. “XPRT protection plan will provide customers additional confidence in their investment by reducing maintenance costs and improving the overall resale value of their equipment; both of which are key components of our global ‘Total Cost of Ownership’ strategy.”
XPRT protection plan offers multiple customizable coverage levels up to five years or 6,000 hours, designed to allow the dealer and the end-customer to choose the plan that best fits their application, usage level and financial budget.