Mining Technologies International Inc. (MTI) completed the sale of certain assets to a subsidiary of Joy Global Inc. for $51 million. Joy Global acquired substantially all of the assets associated with MTI's hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines.
MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a supplier of raise bore drilling consumables.
MTI was represented by Stikeman Elliott LLP with a team including Rod Barrett, Timothy Chubb and Steven Bennett (M&A); Nancy Ramalho (employment), Marc Simonik (real estate), and Michael Kilby and Michael Laskey (competition).
Joy Global was advised by Karina Livshin, Vice President and General Counsel, and by a team from Gowling Lafleur Henderson LLP including Gary Graham, Pam Vermeersch and John O'Toole (M&A); Ian Macdonald and Mark Paciocco (competition); Robert Salisbury (employment) and Ian Richler (environmental).