Joy Global Inc. Announces Completion of Transaction to Sell Drilling Products Business

MILWAUKEE--(BUSINESS WIRE)--

Joy Global Inc. JOYG (“Joy Global”), a worldwide leader in high-productivity mining solutions, today announced that it has completed the transaction to sell the drilling products business of its LeTourneau Technologies Inc. (“LeTourneau”) business to Cameron International Corporation (“Cameron”) CAM for $375 million in cash, subject to certain post-closing adjustments.

Bank of America Merrill Lynch served as exclusive financial advisor to Joy Global on this transaction. Covington & Burling LLP served as legal advisor.

About Joy Global

Joy Global Inc. is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through P&H Mining Equipment and underground mining through Joy Mining Machinery.

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