Joy Global Buys Conveyor Systems Maker

Mining supplies and equipment maker purchasing Continental Global Inc. from NES Group Inc. for $270 million.

MILWAUKEE, Wis. (AP) — Mining supplies and equipment maker Joy Global Inc. said Tuesday it agreed to buy conveyor systems maker Continental Global Inc. for $270 million from NES Group Inc.
Continental, which makes conveyor belts used in mining and industrial applications, had 2007 revenue of about $314 million, Joy said. It has manufacturing plants in the United States, U.K., South Africa and Australia.
Joy expects the move to boost earnings in the first full year after the deal closes, which is anticipated for the first quarter.
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