Well now we have stablished two things first I m some Hyster hating ex-employee who just like to knock Hyster, and second the people like Triumphrider, John J and Stam are probably managers at hyster trying to paper over the cracks in the Hyster business.


We are planning to launch the truck at one of the shows latter this year. How we will do this will be very different to how other companies have done launches in the past.

Now back to Hyster and this post. Hyster very soon will be looking at quite a big write down in its assets. Added to this is the increasing pressure in the very important to Hyster North American Truck market, from 6 ton - 16 ton. This year we have seen the completion of the purchase of HOIST by Toyota and we are now seeing Crown work more closely with Doosan to sell Crown trucks in this range as well.But these are not the two biggest problems Hyster are facing the first is the purchase of maximal in china. Hyster paid including investment 110 million dollars for maximal. Maximal is a company that manufactures around three-week production of Heli per year. The reason why Hyster bought maximal was to have their own range in the very competitive and price sentertive Asian, Eastern Europe and south America markets. The problem is not only the price they paid for Maximal but also, they have been using old Hangcha trucks for their Utilev brand and Hangcha will go after the Hyster dealer network in these areas offering their own product. So Hyster now has not only to make Maximal work but also has to compete with not Only Hancha but also Heli, Heli Junghienrich combination KION with Bialo OM Voltas and Toyota with Tailift. On maximal alone Hyster could be looking at a rite down of around 80 million dollars in a couple of years.

The second and proberbly the biggest problem Hyster has is their Nuvera business. Nuvera has been losing money ever since Hyster bought it. The bet on hydrogen just won't work. Hyster believe the global market will soon move to hydrogen from vans to trucks and forklifts including big trucks. The truth is the global market won't move to hydrogen for a number of reasons firstly the high cost of hydrogen, secondly the fact that you have to freeze hydrogen to - 253c and store it at around 300bar meaning it has to have very expensive storage tanks. Thirdly a 30 ton a day hydrogen plant cost around 150 million dollars to build and a filling station is around 20 million dollars as against a normal filling station at around 1 million dollars. Now we come to the materials handling and forklifts. The only place hydrogen trucks have been sold in any numbers is North America and a very large number of these were sold to both Amazon and Walmart with very high subsidiarise from the Obama Government meaning that with out these subsidiaries hardly any Hydrogen fuel cell trucks would be sold. Who would pay say 250 thousand dollars for five hydrogen fuel cell 3 ton forklifts and around 2 million dollars for the filling station the twice as much for the cost of the fuel.Now when you put this into the bigger truck market the number get even larger.

So now Hyster would face a couple of hundred million dollar write down on Nuvera and 80 Million dollar write down on maximal. How will this effect the Hyster share price