Joy Global sells Texas steel mill for $29 million

by | Aug 12, 2016 | Constuction & Business News, Manufacturer News

Joy Global sells Texas steel mill for $29 million

Joy Global Inc. has sold a steel plate mill in Longview, Texas, for $29 million.

Milwaukee-based Joy Global (NYSE: JOY) announced that it has sold the company to Charlotte, N.C.-based Nucor Corp. All steel mill employees have transitioned to Nucor employment.

Joy Global recently agreed to be acquired by Komatsu America Corp., a Chicagoland, based unit of Japan’s Komatsu Ltd., in a $3.7 billion deal.

Under the terms of the agreement with Komatsu, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock. The all-cash transaction includes Joy Global debt. The deal is expected to close in mid-2017.

Dan Shafer Reporter Milwaukee Business Journal


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