Joy Global Inc. is a worldwide leader in high-productivity mining solutions. Through its market-leading businesses – P&H Mining Equipment and Joy Mining Machinery – the Company manufactures and markets original equipment and aftermarket parts and services for both the underground and above-ground mining industries and certain industrial applications. Joy Global's products and related services are used extensively for the mining of coal, copper, iron ore, oil sands, gold and other mineral resources.
Joy Global and its businesses pride themselves on providing a full range of value-additive aftermarket services, and are committed to assisting our customers mine ores and minerals at the lowest possible cost. To achieve these objectives, we use a Life Cycle Management Strategies (LCMS) approach, which places the highest value on continuous and exceptional customer support. To assist our customers, facilities and equipment service centers span six continents and more than twenty distinct countries.
Our aftermarket provides solid, stable revenues that help mitigate fluctuations in original equipment orders. Our strong aftermarket also supports high machine reliability, which in turn creates customer preference for our original equipment.
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The graph to the right presents our historical annual revenues (1997-2008), comprised of both original equipment sales and aftermarket sales. The solid line within the graph represents historical annual aftermarket sales as a percentage of total revenue.
We are a global business, leveraged to all mined commodities and all geographies. We continue to expand our presence in China and the emerging markets because we expect these to be our fastest growing markets. On our Tianjin campus, the Joy Armored Face Conveyor components factory is producing at higher output levels with lower staffing than its predecessor factory. The P&H gearing components factory was completed earlier this past year and will be ramping up to full production during 2009. These factories not only demonstrate our commitment to the emerging markets but also our capacity strategy of making core components in our own factories, building best-in-class processes and diversifying our manufacturing.
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We have also completed the acquisition of Wuxi Shengda, a Chinese manufacturer of longwall shearing machines for mid-tier, provincial mining companies. The provincial mining companies comprise a larger production volume than the state-owned companies that we have traditionally served in China. In addition, there is a great opportunity to help this new customer base to improve its technology and productivity.
The pie charts below show our fiscal 2008 revenues by commodity and by geographic location.
Joy Global traces its roots back to the late 19th century. Throughout our rich history, we have been recognized for our quality products and services and respected for our strong values and ethics. We currently employ more than 10,000 dedicated and highly skilled personnel worldwide who continue to carry on Joy Global's traditions by applying modern-day strategies. Management is dedicated to treating employees with respect and dignity. The Company offers competitive benefits and compensation, promotes employee training and development and is committed to workplace safety and diversity.
Management is focused on the mining markets and on using its executive and operational expertise to build long-term value for the benefit of all of Joy Global's stakeholders – shareholders, customers, suppliers and employees. We are committed to reinforcing our strengths to be the supplier of choice for our customers. At P&H Mining Equipment and Joy Mining Machinery, we strive to leverage our superior product lines, strong customer relationships and global opportunities to build greater value.
View the P&H History Timeline feature to learn more about the 125 years of P&H Mining Equipment. |
P&H Mining Equipment is a global leader in the manufacture and service of pace-setting large excavating and drilling machines used to mine copper, coal, iron ore, silver, gold, diamonds, oilsands, phosphate, molybdenum, potash and other minerals and bedded materials. Ninety percent of the world’s surface mines utilize P&H equipment. P&H offers three major product lines – electric mining shovels, rotary blasthole drills and walking draglines – and is committed to innovation and continual product enhancement. All P&H Mining Equipment products are distributed and supported by the global P&H MinePro Services distribution team. The MinePro Services organization also provides service and support for a broad range of complementary equipment at the world's surface mines. With some 1,500 specialists at over 30 support centers worldwide, MinePro works with customers to achieve the lowest possible cost of production throughout the life cycle of the equipment.
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Learn more about Joy Mining Machinery's 90-year history.
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Joy Mining Machinery (JMM) leads the industry in providing cost effective equipment and support for the extraction of underground coal and other bedded materials. JMM has more than 85 years experience as a global leader in the development, manufacture, distribution and service of underground mining machinery for the extraction of coal and other bedded materials. JMM manufacturers longwall shearers, roof supports, face conveyors, stageloaders, continuous miners, batch haulage vehicles (shuttle cars and battery haulers), continuous haulage systems (continuous chain haulage and flexible conveyor train), feeder breakers, and bolting products (mobile, onboard and portable) for use in longwall and room and pillar mining operations. The company strives to be the leading global supplier of underground mining systems and services in partnership with its customers to enable them to consistently produce at the lowest cost per ton over the life cycle of the equipment.
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The mining industry is vital to the overall health of the world economy. Today, more than 50% of the electricity generated in the US comes from coal-fired power plants. Joy Global expects to continue its role as a leader in assuring that mineral and energy resources are efficiently and carefully extracted, and delivered reliably to meet the requirements of the world economy.