Stamler produces products for underground and surface coal mining including feeder breakers, battery haulers and continuous haulage systems. The Stamler business is anticipated to have revenues of approximately $150 million in calendar 2006.

The transaction includes Stamler factories in the US, Australia and South Africa. Oldenburg will continue manufacturing battery haulers and continuous haulage systems for Joy Global under the agreement.

Joy Global chief John Hanson said the acquisition was consistent with the company’s philosophy of adding bolt-on products and services to the existing businesses.

“The Stamler products have solid market positions and longstanding reputations with the same mining customers that are served by Joy Mining Machinery and P&H Mining Equipment," Hanson said.

Joy Mining Machinery CEO Mike Sutherlin, who will succeed John Hanson as Joy Global CEO early next year, said the transaction would provide customers with a more complete product offering and higher service levels.

“After the effect of the purchase accounting issues over the next couple of quarters, we fully expect the performance of these product lines to be consistent with the rest of our business,” he said.

“We further believe that in the longer run, we can expand both the original equipment and aftermarket revenues of these product lines with our global presence and Life Cycle Management Strategies.

Finally, this transaction provides additional top-line revenue growth as we continue through the strong current cycle.”