Business Highlights
Leading Brands and Market Share
Hyster® and Yale® are among the most recognized brands in the lift truck industry.
Both brands serve the needs of customers across the manufacturing and services spectrum and deliver core competencies in product support and fleet management.
- Hyster® has an additional competency in Big and Jumbo Trucks, serving the needs of ports, steel and rail.
The Hyster-Yale Maximal brand provides high-value, cost-effective trucks for customers requiring fundamental lift truck performance.
Lift trucks and component parts are manufactured in the United States, Northern Ireland, China, Mexico, the Netherlands, Brazil, the Philippines, Italy, Japan and Vietnam.
Hyster- Yale’s attachment subsidiary, Bolzoni S.p.A., is a leading worldwide producer of attachments, forks and lift tables under the Bolzoni®, Auramo® and Meyer® brand names.
- Bolzoni® brand is known for its lift truck attachments, forks and lift tables.
- Auramo® brand is recognized worldwide as the paper handling specialist, focusing on paper roll clamps, bale clamps and other specialized handling attachments.
- Meyer® brand is recognized as the inventor of the multiple pallet handler and offers a wide range of lift truck attachments.
Bolzoni products are manufactured in the United States, Italy, China, Germany, and Finland.
Comprehensive Global Product Line with a full range of Power Options, Attachments and Solutions
- Class 1: Electric counterbalanced rider lift trucks: 1 ton – 8 ton capacity
- Class 2: Electric narrow aisle lift trucks: 1.5 ton – 6 ton capacity
- Class 3: Electric hand lift trucks: 1.5 ton – 8 ton capacity
- Class 4: Internal combustion engine counterbalanced lift trucks, cushion tire: 1.5 ton – 7 ton capacity
- Class 5: Internal combustion engine counterbalanced lift trucks, pneumatic tire: 1.5 ton – 52 ton capacity
See Hyster-Yale’s product line and solutions >>
Large, Global-Installed Population
- Estimated approximately 1,008,000 Hyster-Yale brands lift trucks in operation worldwide (as of December 31, 2023)
- Large, installed base provides barrier to entry and drives ongoing parts revenue
- Fleet Management Program provides customers with value-added solutions that include service, aftermarket parts and comprehensive management of materials handling needs.
- Comprehensive global proprietary and “all-makes” service parts program
- Service parts can result in recurring, higher-margin revenues
- Aftermarket parts sales represented approximately 16% of Hyster-Yale’s annual revenues in 2023. Bolzoni’s revenues for attachments represented an additional 5% of Hyster-Yale’s 2023 revenues.
Highly Professional Dealers
- Strong, stable network of independent dealers in key markets
- 81% of lift truck sales are through dealer network (as of December 31, 2023)
- Global operations supplying both Hyster® and Yale® dealer networks
- Independently owned and operated dealers with exclusive sales and service territories
- Certain dealers represent both Hyster® and Yale® in defined territories
- Strong global distribution drives market share
Major Accounts Program
- Major Accounts program
- Focused on strategic customers with centralized purchasing and geographically dispersed operations across dealer territories.
- 19% of lift truck sales are through Major Accounts (as of December 31, 2023)
Financial Targets
- LIFT TRUCK AND ATTACHMENTS: Achieve a target operating margin of 7% and maintain a greater than 20% Return on Total Capital Employed
Hyster-Yale’s fuel cell business, Nuvera Fuel Cells, is an alternative-power technology company focused on fuel cell stacks and engines, while the Lift Truck segment is focused on fuel cell-powered battery box replacements and integrated fuel cell engine solutions.
- Nuvera has patented fuel cell stack design and advanced compression and generation technology.
- Nuvera’s industrialization and commercialization processes leverage the supply chain, quality, sales and service expertise of Hyster-Yale.
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.
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, Australia and New Zealand; DLL, BNP and Unicredit in Europe; DLL in Canada, 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:
- Leading telematics solutions, known as HYG Telematics, through the acquisition of Speedshield distribution rights.
- Automation solutions incorporated into Hyster-Yales product offerings via a partnership with BALYO.
- Expansion of power solutions to include Lithium-ion batteries through a formal relationship.
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A diversified customer base reduces exposure to individual customer or industry risk.
- Substantial geographic distribution with 70% of 2023 sales in the Americas market, 20% in the Europe, Middle East and Africa markets and 5% in China and other Asia-Pacific markets. Bolzoni represented approximately 5% of sales in 2023
- Hyster-Yale markets industrial lift trucks into numerous end-user applications utilized in over 900 industries (as of December 31, 2023)
- No industry or customer concentration
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.