Joy Global Says Reviews of IMM Indicate Results Accurate

Joy Global Inc., the world’s second-largest maker of mining equipment, denied allegations made about its International Mining Machinery Holdings Ltd. unit and said it has a “high level of comfort” in the reported results of the business it bought in China last year.

“Joy Global has conducted numerous internal and external financial and operational audits and business reviews of IMM before, during and subsequent to the company’s acquisition in 2012,” Jim Sullivan, Milwaukee-based Joy Global’s chief financial officer, said yesterday in a telephone interview. “These audits and business reviews have not uncovered any fraudulent activity and have given management a high level of comfort that the internal controls within the business are sound and reported results are accurate.”