Joy Global receives subpoena over Chinese acquisition

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Milwaukee-based Joy Global Inc. announced it has received a subpoena seeking information concerning the company’s acquisition of International Mining Machinery Holdings Ltd. in 2012 and related accounting matters.

The  company said it is cooperating with the SEC regarding the ongoing investigation. Joy Global said it does not believe the matter will not have a material adverse effect on its consolidated results of operation, financial position or liquidity.

Joy Global Inc. is a worldwide leader in mining equipment and services for surface and underground mining.

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International Mining Machinery Holdings Limited, an investment holding company, engages in the design, manufacture and sale of underground long-wall coal mining equipment primarily in the People’s Republic of China.

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