The company said the initiatives were fuelled in part by strong demand from the emerging markets, particularly China.

During the presentation Joy Global outlined its plan, named China 2010, to achieve at least $US500 million in annual revenues in China by 2010.

Chairman and chief executive John Hanson said the company was witnessing a surging demand for commodities, particularly coal, copper and precious metals.

“This is creating both opportunities and challenges for Joy Global, as demand for equipment and increased production has constrained supply, lengthened lead times, and resulted in higher demand for our aftermarket parts and services,” he said.

“Our focus remains on meeting the rising demand, maintaining customer service levels, and expanding our leadership within the industry.”

An archive of the presentation webcast, along with corresponding slides, will be available through July 15, 2006 and can be accessed via the investor relations section of the Joy Global website, under Investor Presentations, at http://www.joyglobal.com/.

Joy Global is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through P&H Mining Equipment and underground mining through Joy Mining Machinery.