Continental, internationally known for its bulk material handling conveyor systems, was taken over by the Wisconsin-based company in a $US270 million deal initially announced in January.

 

"We expect to realize significant revenue growth and margin improvement opportunities from Continental," said Joy president Mike Sutherlin.

 

"We will use our very strong aftermarket infrastructure and life cycle management programs around the world to support the Continental conveyor equipment and add value by improving the reliability of the entire system of equipment from the cutting face to the processing or loading facility."

 

Sutherlin also noted opportunities to use its strong influence at both underground and surface operations to take Continental into key international markets for not only coal but also copper, iron ore and oil sands.

 

"As a result, I expect Continental to make significant contributions to our future operational performance and growth opportunities," he said.

 

According to the supplier, Continental's sales last year totaled about $340 million from its design, manufacturing, installation and service facilities in the United States, Australia, South Africa and the United Kingdom.

 

Joy said in January the purchase was part of a strategy to acquire companies with related and highly synergistic product lines. Conveyor systems fit closely with both surface entities Joy Global and P&H MinePro as well as underground division Joy Mining Machinery.