Yale/Hyster forecasts slow 2012 market growth

Nacco Materials Handling Group (NMHG) is projecting minimal forklift market growth in the Americas and the Asia Pacific and modest declines in Europe and China during 2012, parent company Nacco Industries Inc says.

“Nonetheless, NMHG anticipates a slight increase in unit booking and shipment levels in 2012 compared with 2011, primarily as a result of new product introductions and marketing programs,” the company outlook says in a year-end financial report. “Backlog and parts volumes are also expected to remain relatively steady in 2012.”

Nacco financial highlights indicate NMHG had profit of USD82.6 million on 2011 sales of USD2.54 billion, reflecting a significant increase from 2010’s profit of USD32.4 million on sales of USD1.80 billion. NMHG forklift shipments increased 30.5% to 79,700 units in 2011 from the previous year’s 60,000 units. 

NMHG designs, engineers, makes, sells and services forklift trucks and aftermarket parts under the Hyster and Yale brand names, primarily through independent retail dealerships.

NMHG owns seven facilities in the Americas, including five in the US and one each in Mexico and Brasil. NMHG’s European presence includes owned buildings in Northern Ireland and the Netherlands and three leased facilities in England, Scotland and Italy. For the Asia Pacific region, NMHG and joint venture partner Shanghai Hyster Forklift Ltd occupy a Shanghai, China facility that Shanghai Hyster owns. NMHG leases other space in Australia and India.

Posted: March 8th, 2012 under 2010.