NACCO and Hyster-Yale Materials Handling announce completion of spin-off

Effective Monday, October 1, Hyster-Yale began its first full day as an independent company.
By Modern Materials Handling Staff
September 28, 2012 - MMH Editorial

NACCO Industries, Inc. (NYSE: NC) and Hyster-Yale Materials Handling, Inc. (NYSE: HY) announced today the spin-off by NACCO of its materials handling business to NACCO stockholders.

At the close of business today, NACCO will distribute a dividend of one share of Hyster-Yale Materials Handling, Inc. Class A and one share of Hyster-Yale Materials Handling, Inc. Class B Common stock to holders of each share of NACCO Class A and Class B Common stock.

Hyster-Yale Class A Common stock has been approved for listing on the New York Stock Exchange. On Monday, October 1, Hyster-Yale will begin its first full day as an independent company, and will begin trading its Class A Common stock on the NYSE under the symbol “HY.”



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About the Author

Josh Bond, Senior Editor
Josh Bond is Senior Editor for Modern, and was formerly Modern’s lift truck columnist and associate editor. He has a degree in Journalism from Keene State College and has studied business management at Franklin Pierce University.

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