Bolstering its position as a first tier supplier to the underground hard rock mining market, Joy Global acquired Montabert S.A.S. from Doosan Holding France S.A.S. for €110 million ($123 million). The company specializes in the design, production, and distribution of hydraulic rock breakers, pneumatic equipment, drilling attachments, drifters and related parts and tools. Joy Global sees the acquisition as an important step in expanding its product and service capabilities for hard rock mining, tunneling and rock excavation.
“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,” said Ted Doheny, president and CEO, Joy Global. “This acquisition was partially funded through funds borrowed under our revolving credit agreement, with the remainder funded from cash on hand.”