Plant in China to build Hyster models
By Staff -- Modern Materials Handling, 3/1/1998
NACCO Materials Handling Group, Inc., (NMHG) a wholly owned subsidiary of NACCO Industries, Inc., has been granted authorization by the Chinese government to manufacture lift trucks in China. NMHG will build a manufacturing plant in the Pudong Shanghai area where it recently acquired land. The plant is expected to be in production by the second quarter of 1999.The facility will manufacture Hyster large and medium capacity diesel lift trucks primarily for sale in the Chinese market. The initial investment for the project is $13.5 million.
NMHG holds a 55% share in the Shanghai project, with its long time Japanese joint venture partner, Sumitomo-NACCO, holding 30%. The remaining 15% share is held by a Chinese land development company, Shanghai Perfect, owned by the Shanghai municipal government and the Beijing Ministry of Machinery.
"We have been actively selling Hyster product in China during the last ten years, both through our dealer organization and directly to end users," says R.R. Eklund, president and CEO of NMHG.
"Manufacturing the product in China," Eklund continues, "will better serve the needs of our expanding customer base and is the next step in our China growth plans. In addition to manufacturing in China, we will expand our distribution and enhance product support. This, combined with imported product, should result in increased sales and more satisfied customers," he adds.
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