Joy Global
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Public (Acquisition by Komatsu Limited pending) |
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| Traded as | : JOY S&P 400 Component |
| Industry | Mining |
| Founded | 1884 |
| Headquarters | Milwaukee, Wisconsin |
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Key people
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Edward L. Doheny II (President and Chief Executive Officer) |
| Products | Surface mining machinery Underground mining machinery |
| Revenue |
 US$ 4,403.906 mil (2011)
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US$ 920.179 mil (2011)
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US$ 606.656 mil (2011) |
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| Total assets |
US$ 5.429 bil (2011)
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| Total equity |
US$ 1.954 bil (2011)
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Number of employees
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11,300 (2010) |
| Subsidiaries |
P&H Mining Equipment Joy Mining Machinery |
| Website | www |
Joy Global Inc. is an American company that manufactures and services heavy machinery used in underground and surface mining. The company also deals in aftermarket parts. It is a Fortune 1000 company.
Joy Global Inc. had its beginnings in Milwaukee, Wisconsin. At the time, Milwaukee was a center of industrial machinery manufacturing at the convergence of three rivers entering Lake Michigan. Among the growing number of machinery manufacturing firms in Milwaukee in the 1870s was a struggling firm known as the Whitehill Sewing Machine Company. Alonzo Pawling and Henry Harnischfeger managed castings patternmaking and gear machining operations within the Whitehill factory. Concerned that Whitehill lacked the marketing and manufacturing discipline needed to grow, they formed a machine and pattern shop on December 1, 1884. to manufacture, assemble and service components and equipment needed by other, larger manufacturing firms in the region.
In 1887, Pawling and Harnischfeger helped rebuild and upgrade an overhead bridge crane within the foundry operations of the Edward P. Allis Manufacturing Company that had collapsed following an attempt to move a load beyond its rated lifting capacity. The rebuilt crane replaced the complex system of ropes and pulleys that failed with a simplified system of motors and gearboxes. Soon after, Pawling and Harnischfeger began building their own line of overhead cranes for manufacturing and warehouse operations.
A bank panic in 1893 caused demand to fall for the cranes designed and built by Pawling and Harnischfeger, who were referred to by customers “P&H”. The partners decided to expand their product line to include earthmoving machines in order to increase their ability to withstand the next economic downturn. That same year P&H acquired the motors and controls manufacturing assets of the Gibb Electric Company following the acquisition of Gibb by Westinghouse Electric Manufacturing Company, as Pawling and Harnischfeger wanted greater control over the application of motors applied to their crane line.
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Wikipedia