A view from the european perpective
I've been working for Yale in Poland for three years, observing very closely the european market. And my conclusions are not very positive for Yale.
Europe is still dominated by Hyster.
For example - on UK market in 2008 Yale located not more than 400 units. Hyster sales was several times better. In Poland Huster was 2 times better, in Germany 4 times better.
Generally, Hyster in Europe is applying to be one of the Big Players. Yale still remains a niche product.
The brand awarness of Hyster is definitely higher, the presence on the markets is twice as long as Yale's. The Hyster dealers system is less splitted. Yale dealers policy in Europe is to act through smaller companies which have too little power to get better comercial conditions and support. Even the pricing - Hyster is definitely promoted. Additionally Hyster dealers have the whole range of products in the valet. Yale dealers have no access to heavy trucks.
Generally, Hyster market position in Europe is much better than Yale.
If Nacco consideres the merge of the two brands towards Yale it's going to be disaster in Europe for them. Pretty lot of Nacco factories are here.
The european trucks market is huge and I don't think that Nacco is going to risk the significant decrease of marketshare.
If the merge is going to happen - in my opinion, the Nacco brand for Europe will by (should be) Hyster.