CLEVELAND, April 2,
2024 /PRNewswire/ -- Hyster-Yale Materials Handling,
Inc. (NYSE: HY) announced today that it will change its corporate
name to Hyster-Yale, Inc. The Company's wholly owned operating
subsidiary, Hyster-Yale Group, Inc., which designs, engineers,
manufactures, sells, and services a comprehensive line of lift
trucks and aftermarket parts marketed globally primarily under the
Hyster® and Yale®
brand names, will become Hyster-Yale Materials Handling, Inc.
Both name changes are expected to be effective at the close of
business on May 31, 2024.
The name changes are designed to reinforce the Company's current
structure. Hyster-Yale Materials Handling was spun off from NACCO
Industries as an independent public company in 2012. At that time,
the Company sold lift trucks and the related parts and services.
Since then, the Company has evolved into three distinct, but
interrelated businesses, with lift trucks at its core. In this
context, the Hyster-Yale Materials Handling name is better suited
to the core Lift Truck business, aligning its name with its
foundational materials handling activities.
The Company's three business segments, Lift Trucks, Bolzoni and
Nuvera, will operate under the umbrella of Hyster-Yale, allowing
each to have a unique identity linked to its respective brands and
solutions.
"The new Hyster-Yale, Inc. name and the movement of the
Hyster-Yale Materials Handling name to the Lift Truck business
reflects a combination of tradition and progress. While our names
may be changing, we remain committed to delivering high quality and
innovative products across all our brands, including
Hyster®, Yale®,
Maximal®, Bolzoni®, Auramo®,
Meyer® and Nuvera®," said Rajiv Prasad, President and Chief Executive
Officer of Hyster-Yale Materials Handling and Hyster-Yale Group.
"The new names will further unify our identities and underscore our
ongoing commitment to all of our brands and create an umbrella
under which the company will focus on delivering its promises of
providing optimal solutions and exceptional customer
care."
About Hyster-Yale Materials Handling, Inc.
Hyster-Yale Materials Handling, Inc., headquartered in
Cleveland, Ohio, is a globally
integrated company offering a full line of lift trucks and
solutions, including attachments and hydrogen fuel cell power
products aimed at meeting the specific materials handling needs of
its customers. Hyster-Yale's vision is to transform the way the
world moves material from Port to Home and deliver on its customer
promises of: (1) thoroughly understanding customer applications and
offering optimal solutions that will improve productivity at the
lowest cost of ownership, and (2) providing exceptional customer
care to create increasing value from initial engagement through the
product lifecycle.
The Company's wholly owned operating subsidiary, Hyster-Yale
Group, Inc., designs, engineers, manufactures, sells and services a
comprehensive line of lift trucks, attachments and aftermarket
parts marketed globally primarily under the Hyster® and
Yale® brand names.
Subsidiaries of Hyster-Yale include Bolzoni S.p.A., a leading
worldwide producer of attachments, forks and lift tables marketed
under the Bolzoni®, Auramo® and
Meyer® brand names and Nuvera Fuel Cells, LLC, an
alternative-power technology company focused on fuel cell stacks
and engines. Hyster-Yale Group also has an unconsolidated joint
venture in Japan (Sumitomo NACCO).
For more information about Hyster-Yale and its subsidiaries, visit
the Company's website at www.hyster-yale.com.
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SOURCE Hyster-Yale Materials Handling, Inc.