Joy Global, a Wisconsin based mining equipment maker is cutting back manufacturing production in the United States and expanding and building new factories in China
In a conference call on Wednesday, Joy President and CEO Mike Sutherlin said,
“Our P&H mining equipment factory in China is in “ramp up” phase and new facilities will be online soon. The company will eventually be able to deliver mining shovels made in China. This gives us a key advantage in the local China market and a diversified manufacturing base to better serve the global markets.” Joy Global also announced that they will take production out of factories that are on the bottom of the performance list. That is code for we will be closing our factories in the United States.
This is the continued transfer of wealth out of the United States. This is the continued death of American manufacturing. This is the further erosion of the American middle class.