© 2024 Milwaukee Public Media is a service of UW-Milwaukee's College of Letters & Science
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Japanese Firm to Acquire Milwaukee Mining Equipment Manufacturer Joy Global

Courtesy of Joy Global
A Joy Global employee working at their Milwaukee Distribution Center.

Komatsu announced Thursday that it is purchasing mining equipment maker Joy Global of Milwaukee in a deal worth about $3.7 billion.

The Japan-based Komatsu makes construction, mining and military equipment.

Joy Global has 1,000 employees in Milwaukee and 12,000 worldwide.  

Komatsu says it plans to keep Joy Global as a separate subsidiary. The transaction is expected to close by the middle of next year, and still needs approval from Joy Global stockholders. Joy Global stockholders are expected to receive $28.30 per share in cash, as part of the deal.

Marti was a reporter with WUWM from 1999 to 2021.
Related Content