Hyster-Yale Materials Handling, Inc. has announced that its wholly owned operating subsidiary which designs, engineers, manufactures, sells, and services a comprehensive line of forklifts and aftermarket parts marketed globally primarily under the Hyster and Yale brand names, NACCO Materials Handling Group, Inc., will change its corporate name to Hyster-Yale Group, Inc. on January 1, 2016.

In connection with this name change, Hyster-Yale Materials Handling, Inc. and Hyster-Yale Group, Inc. will adopt a new corporate logo.

The name change is designed to reinforce Hyster-Yale Group's position as the operating company under Hyster-Yale Materials Handling, Inc. and to eliminate any confusion created by continuing to use NACCO in the operating company name subsequent to the 2012 spin-off of Hyster-Yale Materials Handling from NACCO Industries, Inc.

"The new Hyster-Yale Group name and logo reflect a combination of tradition and progress," says Colin Wilson, president and chief executive officer of NACCO Materials Handling Group. "While our identity may be new, we remain committed to delivering high quality and innovative products across all our brands, including Hyster, Yale, UTILEV and Nuvera.

"The new name and logo further unify our identities and underscore our ongoing commitment to all of our brands, and create an umbrella under which the company will focus on executing its core strategic initiatives."

NACCO Industries was created in 1986 and the Hyster brand was acquired in 1989.

Hyster-Yale Materials Handling Inc was formed as an independent public company in a 2012 spin-off from NACCO Industries.