Doosan Infracore Co Ltd has sold 100% of the shares of Montabert S.A.S. (France) to Joy Global Inc., a leading supplier of advanced equipment, systems and services for the global mining industry. Joy Global is listed on the New York stock exchange and employs 14,000 employees in 20 countries. The sum involved was approximately $123 million.
Montabert’s 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 consolidate its position to further grow the company’s business in Europe, the Middle East and Africa.
All 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.
Montabert was established 1921 and has a turnover in excess of Euro 87 million. Over 85% of revenue is from exports to markets around the world.