UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC 20549
FORM 8-K
CURRENT REPORTPursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 24, 2011
Joy Global Inc.
(Exact name of Registrant as Specified in Its Charter)
| Delaware | 001-09299 | 39-1566457 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
100 E. Wisconsin Avenue, Suite 2780,
Milwaukee, WI 53202
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code:414-319-8500
Not Applicable(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Solicitation material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a.-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
On October 24, 2011, Joy Global Inc. (the “Company”) completed the sale of the drilling products business of its wholly owned subsidiary, LeTourneau Technologies, Inc., to Cameron International Corporation for $375 million in cash, subject to certain post-closing adjustments. The Company intends to use the net proceeds from the divestiture to fund in part the previously disclosed purchase of approximately 41.1% of the outstanding common stock of International Mining Machinery Holdings Limited and the related tender offer, with any remaining proceeds to be used for general corporate purposes.
A news release dated October 24, 2011 announcing the closing of the divestiture is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| News Release, dated October 24, 2011 |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the Undersigned hereunto duly authorized.
| | | JOY GLOBAL INC. |
| | | |
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| Date: October 25, 2011 | By: | /s/ Ricky T. Dillon |
| | �� | Ricky T. Dillon |
| | | Vice President, Controller and |
| | | Chief Accounting Officer |
