About Hyster-Yale Materials Handling
Creation of Hyster-Yale
On September 28, 2012, Hyster-Yale Materials Handling, Inc. (NYSE: HY) was formed as a public company following a spin-off from NACCO Industries, Inc.
The spin-off satisfies important business objectives for Hyster-Yale:
- Creates greater flexibility to pursue strategic growth opportunities, such as acquisitions and join ventures in the materials handling industry.
- Reinforces management's focus on serving each of Hyster-Yale's market segments and customer application needs.
- Provides Hyster-Yale with direct access to equity capital markets and greater access to debt capital markets.
- Strengthens the alignment of senior management incentives with the needs and performance of the Company.
- Provides investors with a focused investment option in the materials handling business.
Hyster-Yale is a leading global designer, manufacturer and marketer of lift trucks and provider of aftermarket parts and support.
Lift trucks and component parts are manufactured in the United States, Northern Ireland, Mexico, The Phillipines, The Netherlands, Italy, Japan, Vietnam, Brazil and China:
- Leading global lift truck brands in terms of units sold
Large installed base that drives parts sales
- Over 798,000 units worldwide as of December 31, 2012
- Diverse customer and application base
- Global independent dealer network
- Comprehensive, updated global product line
- Globally integrated operations with economies of scale
- Experienced management team
- Headquartered in Cleveland, Ohio with over 5,300 employees in 13 countries
2012 Financial Results
- Revenues: $2.5 billion
- Operating Profit: $111.7 million
- Net Income: $98.0 million
- Cash: $151.3 million
- Debt: $142.2 million
- Net Debt: $(9.1) million (net cash)
- Operating profit margin of 7 percent at the mid-point of the market cycle
- Understand customer needs at the
product and aftermarket levels in order to create and provide a differentiated,
full range of product and service solutions for specific industry applications,
- Offer the lowest cost of ownership
by utilizing the Company's understanding of customers' major cost drivers and
developing solutions that consistently lower cost of ownership and create a
differentiated competitive position,
- Improve the Company's warehouse
market position through enhancing dealer and customer support, adding products,
increasing incentives, and implementing programs to increase focus on key
- Enhance independent distribution by
implementing programs aimed at broadening account coverage of the market,
expanding the Company's dual-brand ownership strategy, and ensuring dealer
excellence in all areas of the world, and
- Expand in Asian markets by offering
products geared to the needs of these markets, enhancing distribution excellence
and focusing on strategic alliances with local partners in China, India and
Certain statements on this page that are not historical facts are forward-looking statements. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the posting of this data to the website. Click here to see the Company's full Forward-Looking Statement Disclaimer/Risks and Uncertainties Statement.