Komatsu to acquire U.S. mining equipment maker Joy Global

Komatsu Ltd. President Tetsuji Ohashi speaks at a press conference on July 21, 2016, in Tokyo, to announce that the construction machinery builder will acquire U.S. mining equipment manufacturer Joy Global Inc. for roughly $2.9 billion. Komatsu envisions completing the acquisition by mid-2017, in a bid to bolster its core mining equipment business as future growth is anticipated in the sector. (Kyodo) ==Kyodo