Joy Global acquires Montabert
By Chris Sleight08 June 2015
Mining equipment manufacturer Joy Global has acquired Doosan Infracore’s hydraulic breaker and attachment business Montabert. The deal for the France-based company was completed at the start of June for a price of € 110 million (US$ 121 million).
Commenting on the acquisition, Joy Global president & CEO Ted Doheny said, “We are pleased to announce our acquisition of Montabert S.A.S. (Montabert) from Doosan Holding France S.A.S. Montabert specialises in the design, production and distribution of high quality hydraulic rock breakers, pneumatic equipment, drilling attachments, drifters and related parts and tools.
“This acquisition represents an important step in expanding product and service capabilities for hard rock mining, tunnelling and rock excavation, further diversifying the company's commodity and end market exposures. The Montabert product line will complement our existing fleet of hard rock equipment and leverages our global service centre infrastructure providing long-term value to our shareholders.”
Joy Global said that Montabert’s revenues for the twelve months to the end of March 2015 were some US$ 100 million.