Milwaukee, Joy Global Inc a worldwide leader in high-productivity mining solutions, closed, through a subsidiary, on the purchase of certain assets of Mining Technologies International Inc. ("MTI") on May 30, 2014. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world-leading supplier of raise bore drilling consumables. Joy Global acquired substantially all of the assets associated with MTI’s hard rock drilling, loader, dump truck, shaft sinking, and raise bore product lines.
“This acquisition represents an exciting opportunity as we execute on our growth strategy to expand our underground mining product lines into the hard rock markets including nickel, potash, palladium, platinum, gold and copper," commented Ted Doheny, President and Chief Executive Officer. "We believe that MTI's broad range of complementary products, combined with our proprietary technology, global direct service team and operational excellence capabilities, will provide significant value to hard rock mining customers and our shareholders," continued Doheny.