News story

NMHG sells Yale Netherlands

Thursday, 21 September 2006 ( #278 ) - VLAARDINGEN, Netherlands
Yale Netherlands in Vlaardingen.
Yale Netherlands in Vlaardingen.
Nacco Materials Handling Group (NMHG) has sold its shares in Yale Netherlands BV, of Vlaardingen, the Netherlands, to Citra Group BV. Yale Netherlands will be placed in the trading division of the Citra Group, under Citechma Retail & Services. The acquisition fitted the group's growth strategy for the logistics sector, a company statement said. Citra Group has holdings in companies that import, sell and hire equipment from the John Deere, Liebherr, Ingersoll Rand and Votex-Bison brands. Yale Netherlands general manager Leo Westhoek told Logistiek.nl that the company's relationship with NMHG subsidiary Yale Europe, of Hampshire, United Kingdom, would remain unchannged. "At least we have not noticed a difference in the past. They did not favour us because we were their own, compared to independent dealers." The report said Yale Netherlands was owned by NMHG for eight years but NMHG started selling its Dutch offices four years ago to divert resources to R&D. Westhoek told Forkliftaction.com News the company was not ready to disclose changes that would follow the acquisition, including whether Yale Netherlands would change its name. The acquisition price was not disclosed. Logistiek.nl is a Dutch logistics magazine owned by Reed Business Information, a US-based business-to-business publisher with more than 100 titles and services worldwide.