Hyster-Yale Materials Handling, Inc. and its subsidiaries, including its operating
company Hyster-Yale Group, Inc. ("HYG") formerly known as NACCO Materials
Handling Group, Inc., is a leading global integrated designer, engineer, manufacturer,
seller and servicer of a comprehensive line of lift trucks and aftermarket parts
marketed globally primarily under the Hyster® and Yale® brand names,
mainly to independent Hyster® and Yale® retail dealerships. Lift trucks
and component parts are manufactured in the United States, Northern Ireland,
Mexico, the Netherlands, the Philippines, Italy, Japan, Vietnam, Brazil and
China. Hyster-Yale was incorporated as a Delaware corporation in 1999.
On December 18, 2014, the Company acquired Nuvera Fuel Cells, Inc. ("Nuvera").
Nuvera, located in Billerica, Massachusetts, is an alternative-power technology
company focused on fuel-cell stacks and related systems. Nuvera is also focused
on supporting on-site hydrogen production and dispensing systems that are designed
to deliver clean energy solutions to customers.
As a result of the acquisition of Nuvera, the Company intends to commercialize
Nuveras research and technology to provide for the integration of this fuel-cell
technology across large parts of the Companys lift truck product range. The
Company expects to be able to offer its Hyster® and Yale® customers
an integrated, factory-fitted fuel-cell solution, as well as associated hydrogen
generation and delivery capability. In addition, the Company expects to offer
aftermarket solutions designed to be used in electric powered lift truck brands
in the market today.
The Company manufactures components, such as frames, masts and transmissions,
and assembles lift trucks in the market of sale whenever practical to minimize
freight cost and balance currency mix. In some instances, however, it utilizes
one worldwide location to manufacture specific components or assemble specific
lift trucks. Additionally, components and assembled lift trucks are exported
to locations when it is advantageous to meet demand in certain markets. The
Company operates twelve lift truck manufacturing and assembly facilities worldwide
with five plants in the Americas, three in EMEA and four in JAPIC, including
joint venture operations.
The Company offers a line of aftermarket parts to service its large installed
base of lift trucks currently in use in the industry. The Company offers online
technical reference databases specifying the required aftermarket parts to service
lift trucks and an aftermarket parts ordering system.
The Company sells Hyster®- and Yale®-branded aftermarket parts to dealers
for Hyster® and Yale® lift trucks. The Company also sells aftermarket
parts under the UNISOURCE™ and PREMIER™ brands to Hyster® and
Yale® dealers for the service of competitor lift trucks. The Company has
a contractual relationship with a third-party, multi-brand, aftermarket parts
wholesaler in the Americas and EMEA whereby orders from the Companys dealers
for parts for lift trucks are fulfilled by the third party who then pays the
Company a commission.
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