Doosan confirms Montabert divestiture

0

Doosan has sold 100% of the shares of Montabert to Joy Global, a leading supplier of advanced equipment, systems and services for the global mining industry, for €110m (US$123m). Joy Global is listed on the New York stock exchange and employs 14,000 employees in 20 countries. 

Montabert’s breaker products and equipment fit Joy Global’s core business of designing, manufacturing, distributing and servicing high productivity mining equipment. This evolution will provide Montabert and its employees with the opportunity to work for a global mining equipment business that is active in all major mining regions in the world. 

The divestiture of Montabert allows Doosan to further focus on capturing all growth opportunities in order to significantly grow the company’s business in Europe, the Middle East and Africa.

Supply agreements between Montabert and Doosan for all Bobcat and Doosan branded products will continue. The company ensures all dealers’ needs will be served with the highest level of quality and service.

June 12, 2015

Share.

About Author

mm

Tom Stone is Editor of the iVT brand – which includes digital and print editions of a quarterly magazine, Off-Highway Annual, and the Advanced Lift-truck supplement, as well as ivtinternational.com, which is updated daily. Tom has met and interviewed some of the world's leading industrial vehicle OEM presidents, CEOs and MDs, and takes great pride in cementing iVT's place as the leading forum for debate within the industry, a reputation that his been built up over the brand's 25-year history.

Comments are closed.