Joy Global Completes Sale of Drilling Business

Joy Global announces it has completed the transaction of selling its drilling products business.

October 26, 2011

Komatsu Mining Corp. (formerly Joy Global Inc.)

Joy Global Inc. (Joy Global), a worldwide leader in high-productivity mining solutions, announces that it has completed the transaction to sell the drilling products business of its LeTourneau Technologies Inc. (LeTourneau) business to Cameron International Corporation (Cameron) for $375 million in cash, subject to certain post-closing adjustments.

Bank of America Merrill Lynch served as exclusive financial advisor to Joy Global on this transaction. Covington & Burling LLP served as legal advisor.

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