Joy Global CEO Looking To Expand Equipment Lines

Joyrobo sand making Global will continue to look for acquisitions to fill out its product lines of mining equipment and expand its production capacity, Chief Executive Mike Sutherlin said Thursday. Sutherlin said he's interested in adding hydraulic mining excavators and underground hard-rock mining machinery.

He added that the company is improving the capabilities of its existing machines to make them more versatile. The company last month agreed to acquire LeTourneau Technologies Inc. from Rowan Cos. (RDC) for $1.1 billion. LeTourneau will give the Milwaukee company exposure to oil-and gas-drilling equipment and will expand Joy's line of high-horsepower wheel loaders. LeTourneau specializes in giant electric-drive wheel loaders for surface mines. The deal is expected to be completed in the third quarter. The LeTourneau deal was widely seen as Joy Global's response to Caterpillar Inc.'s (CAT) acquisition of mining equipment manufacturer Bucyrus International Inc...