Summit Notebook

Exclusive outtakes from industry leaders

Audio – A little less joy down the road for Joy Global


Mining and construction equipment maker Joy Global actually had a pretty good week for itself.

The company released its first-quarter results last Wednesday, which topped Wall Street’s expectations and sent the shares up more than 15 percent.

Company Chief Executive Michael Sutherlin, speaking as the kick-off guest to the Reuters Global Mining and Steel Summit, said it seems that Joy Global should be able to hit its numbers in 2009.

However, Sutherlin said 2010 provides a less clear picture, which will likely cause the company to rethink its size and staffing levels for the short term. Sutherlin said the company was reviewing its structure now and expects to have more to say about jobs and plants by the middle of the year.