Some time ago, Barloworld advised NACCO Materials Handling Group of their strategic intent to consider exiting the materials handling business in the United States. Over the past several months, they have worked with Barloworld to enable them to negotiate the sale of their materials handling business in the U.S.
Hyster has announced that letters of interest to acquire Barloworld U.S. operations have been executed with two parties. Both parties have been approved by NACCO Materials Handling Group, and we are confident they will provide first class representation for the Hyster® brand and exceptional support to Hyster customers, while being valued additions to the Hyster dealer network.
Briggs Equipment Inc.
LiftOne, a Division of Carolina Tractor and Equipment Company who have their headquarters in Charlotte, N.C., will become the Hyster dealer in portions of North Carolina, South Carolina, Georgia, Alabama, Virginia and Tennessee. LiftOne will transition from existing competitive supplier relationships when appointed to represent the Hyster brand.
Hyster officials are looking forward to welcoming Briggs and LiftOne to the Hyster network in the U.S. upon completion of the proposed transactions and execution of dealer agreements for the assigned territories.
The transactions remain subject to due diligence, and are expected to close by March 31, 2012. Further announcements concerning this transition will be made as soon as possible.
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