Joy Global

Joy Global Inc. was a United States-based manufacturer and service provider specializing in heavy equipment used to extract, move and process coal and other minerals. Its business served both underground and surface mines, combining large capital equipment with extensive aftermarket support, parts, repairs, rebuilds, modernization and technical services. The company operated through two principal product identities: Joy Mining Machinery for underground mining equipment and P&H Mining Equipment for surface mining machinery. The company's industrial lineage originated in Milwaukee, Wisconsin, where Alonzo Pawling and Henry Harnischfeger established a machine and pattern shop in 1884. The business developed from components and overhead cranes into earthmoving and mining machinery, eventually becoming associated with the P&H name. In parallel, Joseph F. Joy developed mechanized coal-mining equipment after working in a Maryland coal mine. His designs led to the formation of Joy Mining Machinery, which became an important supplier of underground coal-mining systems. The two lineages were brought together through Harnischfeger Industries' acquisition of Joy Mining Machinery in 1994. Harnischfeger had previously evolved into a diversified industrial group and later underwent Chapter 11 restructuring after problems connected with its Beloit pulp and paper business. Joy Global Inc. became the direct successor to Harnischfeger Industries when the company emerged from restructuring in 2001. During the 2000s and early 2010s, Joy Global concentrated more strongly on mining equipment and expanded through acquisitions. It bought Continental Crushing & Conveying in 2008, adding surface-mining crushing and conveying capabilities. In 2011, it acquired LeTourneau Technologies' mining equipment and drilling systems business, strengthening its position in high-capacity front-end loaders and related equipment. The company also acquired a substantial stake in International Mining Machinery Holdings, a Chinese producer of longwall mining shearers, and subsequently increased that stake. Joy Global's underground portfolio included continuous miners, longwall shearers, powered roof supports, armored face conveyors, shuttle cars, flexible conveyor trains, roof bolters, battery haulers and continuous haulage systems. Its surface portfolio included electric mining shovels, blast-hole drills, walking draglines and in-pit crushing and conveying systems. These products were used in coal, copper, iron ore, oil sands, gold, phosphate, molybdenum, diamond, salt and trona operations. Service was central to the business model. Joy Global maintained service centers, warehouses and field-support teams across mining regions, offering emergency repairs, preventive maintenance, equipment upgrades, rebuilds, relocations and remote condition monitoring. In 2016, services represented the majority of company revenue, while equipment sales represented a smaller share, reflecting the importance of installed-base support and lifecycle management. Komatsu Limited acquired Joy Global in 2017. Following the transaction, the company was renamed Komatsu Mining Corp. and its operations were integrated into Komatsu's mining equipment business. Joy and P&H product identities continued to be used within Komatsu's mining portfolio, but Joy Global ceased to operate as an independent corporate entity.

Joy Global's history combines the development of Milwaukee industrial machinery with the rise of mechanized underground coal mining. In 1884, Alonzo Pawling and Henry Harnischfeger formed a machine and pattern shop in Milwaukee to manufacture and service components for regional industrial companies. After helping rebuild a failed overhead bridge crane in 1887, the partners began producing their own cranes. The business later expanded into earthmoving equipment, including trenchers, power shovels and draglines. After Pawling's death in 1911, the company became known as Harnischfeger Corporation and developed the P&H product identity. The P&H business expanded during the early twentieth century as crawler-mounted shovels and cranes grew in scale and capability. The company diversified during downturns, but later divested several noncore activities and refocused on construction and mining machinery, cranes and material-handling systems. By 1983 it had become Harnischfeger Industries, Inc., a conglomerate that also owned businesses outside mining, including Beloit Corporation and Syscon Corporation. A separate branch of the company's history began with Joseph Francis Joy, who had worked underground in a Maryland coal mine. He studied mechanical engineering and developed machinery intended to reduce the manual labor involved in loading coal. His gathering-arm loader attracted commercial support from the Pittsburgh Coal Company in 1916, and Joy obtained a United States patent for the design in 1919. Joy Mining Machinery subsequently became a major supplier of underground mining equipment. Harnischfeger Industries acquired Joy Mining Machinery in 1994 in a stock transaction valued at approximately one billion dollars. The acquisition combined Harnischfeger's P&H surface-mining machinery with Joy's underground equipment. Harnischfeger later sold its P&H overhead crane and hoist business, while financial difficulties in its paper-machinery activities contributed to a Chapter 11 filing in June 1999. On July 12, 2001, Joy Global Inc. became the direct successor to Harnischfeger Industries after the restructuring. As Joy Global, the company increasingly focused on mining equipment and lifecycle services. The Joy brand served underground operations, particularly coal and other bedded-material mines, while P&H supplied large surface-mining machines for commodities including copper, coal, iron ore, oil sands, gold, phosphate, molybdenum and diamonds. The company also developed a global network of service facilities and emphasized equipment uptime, preventive maintenance, rebuilds, upgrades and remote monitoring. Acquisitions broadened the product range. In 2008, Joy Global acquired Continental Crushing & Conveying, adding surface-mining crushing and conveying systems. In 2011, it acquired LeTourneau Technologies' mining equipment and drilling systems unit, expanding into high-capacity loaders; the drilling-products business was subsequently sold to Cameron International. That year, Joy Global also acquired a 41 percent interest in International Mining Machinery Holdings and later increased its stake. In 2016, it sold a steel plate mill to Nucor for $29 million. Komatsu Limited acquired Joy Global in 2017. The acquired company was renamed Komatsu Mining Corp., ending Joy Global's existence as an independent corporation while preserving Joy and P&H product traditions within Komatsu's mining business.

• 2017

  Komatsu completes acquisition

  [1]Joy Globalen.wikipedia.org

  Komatsu acquired Joy Global, which was renamed Komatsu Mining Corp.

• 2011

  LeTourneau mining equipment acquisition

  [1]Joy Globalen.wikipedia.org

  Joy Global acquired LeTourneau Technologies' mining equipment and drilling systems business, expanding its loader portfolio.

• 2008

  Acquisition of Continental Crushing & Conveying

  [1]Joy Globalen.wikipedia.org

  The transaction added crushing and conveying equipment for surface mining.

• 2001

  Joy Global becomes successor to Harnischfeger Industries

  [1]Joy Globalen.wikipedia.org

  Joy Global Inc. became the direct corporate successor after Harnischfeger emerged from restructuring.

• 1999

  Harnischfeger files for Chapter 11

  [1]Joy Globalen.wikipedia.org

  Harnischfeger Industries entered Chapter 11 bankruptcy protection following severe financial problems associated largely with its paper-machinery operations.

• 1994

  Harnischfeger acquires Joy Mining Machinery

  [1]Joy Globalen.wikipedia.org

  The acquisition brought the Joy underground mining business into the Harnischfeger group.

• 1956

  Harnischfeger Corporation becomes publicly listed

  [1]Joy Globalen.wikipedia.org

  Harnischfeger Corporation was listed on the American Stock Exchange.

• 1919

  Joseph Joy patents a mechanized coal loader

  [1]Joy Globalen.wikipedia.org

  Joseph F. Joy received a United States patent connected with his gathering-arm coal loader and launched the Joy Mining Machinery lineage.

• 1884

  Pawling and Harnischfeger establish a machine shop

  [1]Joy Globalen.wikipedia.org

  Alonzo Pawling and Henry Harnischfeger founded the Milwaukee machine and pattern shop that became the earliest corporate root of the P&H industrial lineage.

A full-line mining equipment supplier positioned around high-productivity extraction systems, large-scale surface machinery and lifecycle service support. The company differentiated itself through the combination of Joy underground equipment, P&H surface equipment and global aftermarket capabilities.

• Underground mining equipment

  Joy continuous miners

  Self-propelled electric machines that cut coal and other bedded materials with rotating drums fitted with cutting bits. They were designed for high-productivity room-and-pillar and related underground mining applications.

• Underground mining equipment

  Joy longwall shearers

  Cutting machines that travel along an armored face conveyor while rotating drums remove material from a longwall face and load it onto the conveyor. They formed a core part of Joy's high-productivity underground systems.

• Underground mining equipment

  Joy powered roof supports

  Hydraulically powered steel support units that protect workers and equipment from roof falls during longwall mining. The supports advance with the shearer and conveyor, leaving controlled roof collapse behind the working face.

• Underground material handling

  Joy haulage and conveying systems

  A group of underground transport products including shuttle cars, battery haulers, flexible conveyor trains, armored face conveyors and continuous haulage systems. These products moved mined material from the face toward the mine's main conveyor or load-out system.

• Surface mining equipment

  P&H electric mining shovels

  Large electrically powered rope shovels used to load fragmented material into haul trucks or in-pit crushing and conveying systems. P&H shovels were designed for high-volume surface mines handling commodities such as coal, copper and iron ore.

• Surface mining equipment

  P&H blast-hole drills

  Electric- or diesel-powered drilling rigs used to create blast holes in hard rock before explosives are placed. Their functions included applying downward bit force, rotary torque and air for cooling and removal of cuttings.

• Surface mining equipment

  P&H walking draglines

  Very large electric excavators mounted on walking mechanisms and used to remove overburden in large surface mines. Their long booms and large buckets enabled extensive casting, digging and dumping operations, particularly in coal and phosphate mining.

• Mining services

  Mining services and lifecycle management

  Joy Global supported its installed equipment base through service centers, parts warehouses and field teams. Services included emergency repairs, preventive maintenance, upgrades, rebuilds, relocations and remote equipment-health monitoring intended to reduce downtime and improve productivity.

• 2017

  Sell Joy Global to KomatsuM&A

  Background

  Komatsu sought to strengthen its global mining equipment business through a combination with Joy Global.

  Action taken

  Komatsu Limited acquired Joy Global and renamed the business Komatsu Mining Corp.

  Aftermath

  Joy Global ceased to exist as an independent company, while Joy and P&H product lines continued within Komatsu's mining operations.

  Source

• 2011

  Acquire LeTourneau mining equipment businessM&A

  Background

  Joy Global wanted to broaden its surface-mining portfolio beyond traditional shovels, drills and draglines.

  Action taken

  The company acquired LeTourneau Technologies' mining equipment and drilling systems business and later sold the drilling-products business to Cameron International.

  Aftermath

  Joy Global gained high-capacity front-end loaders while narrowing the retained LeTourneau portfolio after the drilling-products divestiture.

  Source

• 1994

  Acquire Joy Mining MachineryM&A

  Background

  Harnischfeger Industries sought to expand its mining equipment position by adding a major supplier of underground machinery.

  Action taken

  Harnischfeger acquired Joy Mining Machinery in a stock transaction reported at approximately $1 billion.

  Aftermath

  The Joy underground portfolio was combined with Harnischfeger's P&H surface-mining equipment businesses and later formed a central part of Joy Global.

  Transaction value. Approximately US$1 billion (1994)

  Source

1. 1Joy Globalen.wikipedia.org