Who is Hyster-Yale Group?
Hyster-Yale Group is the operating company of Hyster-Yale Materials Handling Inc. (NYSE:HY) and is one of the world’s largest manufacturers of materials handling equipment. We provide comprehensive materials handling solutions for nearly every indoor and outdoor application, including warehousing, large-capacity cargo, and container handling. We cover hundreds of end-user applications in more than 700 industries, and our three operating divisions include 26 facilities, 13 countries, and over 5,000 people.
Want to see all the places where Hyster-Yale Group is located? View our locations map.
Our brand roots go back as far as 1875 when Linus Yale and Henry R. Towne formed the Yale Lock Manufacturing Company. In 1929 Willamette Iron & Steel Corporation and Electric Steel Foundry joined forces to form a new company named Willamette Ersted Company, later to become Hyster Company. Both companies went on to produce materials handling equipment playing a key role in the formation of the materials handling industry as it is known today. Together, the Hyster® and Yale® brands maintain one of the leading market share positions, both in the Americas and worldwide.
In 1985 The North American Coal Corporation bought a controlling interest in Yale Materials Handling Corporation. NACCO Industries (NACCO) was created as a holding company a year later, with North American Coal and Yale Materials Handling becoming separate subsidiaries under the NACCO corporate entity. NACCO then acquired Hyster Company in 1989 and combined it with Yale Materials Handling to form what later became NACCO Materials Handling Group, Inc. (NMHG). An important strategy behind the successful venture was to combine the product development, production and managerial strengths of the two organizations. Maintaining the individual marketing identities and brand loyalties of both the Yale® and Hyster®product lines continues to be an important strategy for Hyster-Yale Group’s success.
In 2011, NMHG began introducing the UTILEV® range of affordable lift trucks, which deliver reliable and cost-effective materials handling solutions for applications across many industries, particularly where users require equipment without advanced functionality or attachments.
In 2012, Hyster-Yale Materials Handling, Inc. is formed as an independent public company following the spin-off by NACCO Industries, Inc. of its materials handling business.
In 2014 NMHG acquired Nuvera Fuel Cells, a leader in the development and production of hydrogen fuel cells and the supporting on-site hydrogen production and dispensing systems. The acquisition positioned the Company to become the first OEM manufacturer to integrate and factory-fit fuel cell technology directly into its products.
In 2016 the NMHG name changed to Hyster-Yale Group. This change sees the Company move away from identification with its previous parent, NACCO Industries Inc., bringing focus to its rich history and enabling more clarity and promotional opportunities for its materials handling and fuel cell brands in a competitive market and within the Company.