New no. 1 in lift trucks
By Staff -- Modern Materials Handling, 6/1/1999
Three brands-Hyster, Yale, and now Nissan Forklift-would all be parts of one very large industrial truck company worldwide if a planned merger goes through to completion later this year. At press time, NACCO Materials Handling Group, Inc. (NMHG) said it had signed an agreement with Nissan Motor Co., Ltd. to purchase Nissan's global forklift business. Transaction value is estimated at $300 million by NMHG.The NMHG/Nissan combination would rank at the top globally, bumping Linde from first place. Combined production for Hyster, Yale, and Nissan in 1998 was over 100,000 units. Earlier this year, Linde said it had sold a total of 86,000 warehouse and forklift trucks in 1998.
Much as it has with its existing Hyster and Yale brands, NMHG says it will maintain the Nissan brand, product line, and dealer network independently. Over time some Nissan activities will be integrated into NMHG, however.
Added economies of scale and major new synergies are expected from the merged companies, NHMG says. Operations in Japan should be strengthened along with sales to the Asia/Pacific area. And the merger reinforces NHMG's position in North America and Europe; the Hyster and Yale brands already hold a 29% share of the U.S. market.
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