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Joy slips to low gear

Joy Global president Ted Doheny says the global mining equipment capital spending outlook for 2017 has worsened in the current quarter, with the company this week reporting significantly lower net sales, orders and income for that period as it makes an inauspicious exit from the mining equipment arena.

Mining Journal
Joy president Ted Doheny: 2017 market outlook weak

Joy president Ted Doheny: 2017 market outlook weak

The company, about to become part of Japan’s Komatsu under a US$2.9 billion merger, reported net sales for the three months ended July 29 of US$587 million, down 26% year-on-year, while earnings per diluted...

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