Hyster-Yale has developed partnerships to support customer needs in equipment, financing, alternative energy and high-quality global product availability.
Joint Ventures
Sumitomo NACCO
Sumitomo NACCO Forklift Co. Ltd is a 50/50 joint venture established in 1970 by Sumitomo Heavy Industries, Ltd. and Hyster-Yale Materials Handling, Inc. Sumitomo NACCO was formed primarily to manufacture and distribute Sumitomo-branded lift trucks in Japan and export Hyster®- and Yale®- branded lift trucks and related components and service parts outside of Japan. Sumitomo NACCO operates manufacturing facilities in Japan, the Philippines and Vietnam. Click here to learn more.
Hyster-Yale Maximal
Hyster-Yale Maximal Forklift (Zhejiang) Co., Ltd. was established in 2018 as a 75%/25% joint venture company between Hyster-Yale and Y-C Hong Kong Holding Company Limited. The original business, Zhejiang Maximal Forklift Company Limited was founded in 2006. Hyster-Yale Maximal is a Chinese company specializing in the design, manufacture, service and distribution of Class 1 electric and Class 5 internal combustion engine counterbalance utility and standard platforms, and Class 2 and Class 3 electric warehouse products for both the local China and global markets under the Maximal brand. Hyster-Yale Maximal also designs and produces specialized products in the Port Equipment and Rough Terrain forklift segments. Click here to learn more.
HYG Financial Services, Inc.
HYG Financial Services, Inc. is an exclusive joint venture between Hyster-Yale and Wells Fargo Financial Leasing, Inc. formed primarily for the purpose of providing debt financing to dealers and lease financing to both dealers and customers in the United States. Hyster-Yale owns 20% of the joint venture entity. Under the joint venture agreement with HYGFS, the Company’s dealers and certain customers are extended credit for the purchase of lift trucks to be placed in the dealer’s floor plan inventory or the financing of lift trucks that are sold or leased to customers.
Other
Hyster-Yale has contractual relationships with leading third-party equipment financing companies to provide customer-based and/or dealer-based financing solutions on four continents: Wells Fargo in North America, as described above, and Australia and New Zealand; DLL, BNP and Unicredit in Europe; DLL also in South America-Brazil, Australia and New Zealand; SMFL in SE Asia and Tokyo Century Leasing China Corporation and Ethoz Capital in China.
To ensure customers have access to the latest in energy-efficient technologies to increase sustainability, reduce operational costs and improve productivity Hyster-Yale has developed the following product development and supply partnerships:
- Acquired Speedshield distribution rights to provide customers with leading telematics solutions, known as HYG Telematics.
- Forged partnership with BALYO to incorporate automation solutions into Hyster-Yale’s product offerings.
- Formal relationship to expand power solutions to include Lithium-ion batteries.