Joy Global is one of the three big suppliers of mining equipment to survive the 25-year industry slump–which means that the company doesn’t have a whole lot of competition when mining booms as it did in the run-up to 2008 and will do again when the global recession is over. (The company’s predecessor, Harnischfeger, went bust in 1999 at the bottom of the cycle.) About 70% of Joy Global’s equipment goes into the coal mining industry, with copper and iron mining making up the company’s No. 2 and No. 3 markets.
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