Joy Global services and manufactures heavy machinery.
The company was founded by Alonzo Pawling and Henry Harnischfeger when they worked at the Whitehill Sewing Machine Company in 1887. In response to equipment issues at the factory, Pawling and Harnischfeger designed and built a line of overhead cranes for manufacturing and warehouse operations.
The company, then known as P&H, diversified into earth moving machines after a bank panic in 1893. after 1911 and the passing of Alonzo Pawling, the company changed its name to Harnischfeger Industries.
Joseph Francis Joy patented a gathering arm type loader in 1919, which was the first device he designed in his aim to mechanize the coal-mining process. With this invention he launched Joy Mining Machinery.
Harnischfeger Industries bought Joy Mining Company in 1994 in a $700 million deal.
Today the company is known as Joy Global. Joy Global makes mining equipment through two subsidiaries: Joy Mining Machinery and P&H Mining Equipment. The company trades publicly on the New York Stock Exchange under the ticker symbol JOY, is a member of the S&P 500, is #493 in the Fortune 500, has 16,600 employees, and had $3.83 billion in revenue in 2013.