Home » Joy Global to Buy Conveyor Systems Supplier
Joy Global to Buy Conveyor Systems Supplier
January 8, 2008
Joy Global Inc., Milwaukee, WI, supplier of mining equipment, has agreed to acquire NES Group's Continental Global Inc., a conveyor systems supplier focused on mining and other industrial applications, for $270 million.
Continental has customers on six continents and facilities in the U.S., UK, South Africa and Australia. Continental's 2007 sales of conveyor equipment are expected to be $340 million.
All businesses of NES unrelated to conveyor equipment, including the company's axle products business, will stay in the hands of NES Group.
Continental Global expands the range of products and services we can deliver to our customers, and is consistent with our strategy of adding related and highly synergistic product lines," said Mike Sutherlin, president and CEO of Joy Global.
Joy Global operates through P&H Mining Equipment and Joy Mining Machinery.