Nacco, Manitex report lower sales

News Story
- 14 May 2009 ( #410 ) - Mayfield Heights, OH, United States
1 min read
A significant drop in volume at the materials handling group of Nacco Industries Inc resulted in a companywide loss of USD9.1 million for the first quarter ended March 31 versus profit of USD5.6 million in the comparable 2008 period.

The wholesale materials handling segment "expects significant declines in all lift truck markets in 2009 compared with 2008" and projects "limited recovery until 2010", the company says. The segment saw a 45.2% decline in first quarter revenues to USD371.6 million from USD677.9 million and March 31 worldwide backlog dropping to 12,800 units from the year-earlier 29,100 units.

Mayfield Heights-based Nacco's responses included capital expenditure restraints, planned plant downtime, reductions-in-force, restrictions on spending and travel, suspension of incentive compensation and profit-sharing, wage freezes, and salary and benefit reductions.

The segment, as part of the Nacco Materials Handling Group unit, designs, manufactures and supplies forklift trucks and aftermarket parts globally under the Hyster and Yale brand names.

Meanwhile, Bridgeview, Illinois-based Manitex International Inc reported a 40.4% decline in sales for the first quarter ended March 31. The 2009 quarter total was USD14.0 million versus USD23.5 million last year.

Despite the drop, Manitex remained profitable and cashflow-positive during the quarter. "We were able to react quickly to dramatically reduce our costs," says David Langevin, Manitex chairman and chief executive officer. "Further, we were able to maintain our 30% marketshare for the quarter in our main product category."

Manitex's Liftking subsidiary makes Noble straight-mast rough terrain forklifts, Lowry high-capacity cushion-tyred forklifts and Schaeff electric indoor forklifts.
Jungheinrich records ‘resilient’ results
Jungheinrich records ‘resilient’ results 16 Aug 2024 - Hamburg, Germany - 1 min read
KION narrows revenue forecast
KION narrows revenue forecast 8 Aug 2024 - Frankfurt, Germany - 1 min read
Kalmar makes stock market debut
Kalmar makes stock market debut 4 Jul 2024 - Helsinki, Finland, Finland - 1 min read
Previously about:
Manitex completes Valla acquisition News Story - 5 Dec 2013 - Bridgeview, IL, United States - 1 min read
Manitex buys Italian firm, reports higher sales News Story - 14 Nov 2013 - Bridgeview, IL, United States - 1 min read
Briefs News Story - 24 Oct 2013 - 2 min read
Employee retires after half century at Yale News Story - 17 Sep 2015 - Cannock, United Kingdom - 2 min read
Movers & Shakers News Story - 4 Jun 2015 - 1 min read
Upgrades for Hyster Spacesaver forklift Advertisement - 19 Mar 2015 - 2 min read
Do you have materials handling news? Submit your news here
Inside The News
In this week’s Forkliftaction News we report on the recent IMHX event in Birmingham with coverage of new product launches, key themes and observations from those attending. We also name the winners of the 2025 Archies Awards, held in conjunction with IMHX... Continue reading

Showcased in the Virtual Expo

Industrial processes in paper and waste processing involves strapped bale handling and de-wiring. Durwen provides the smart solution for the industry, with its fully Durwen designed and made de-wiring bale clamp. Expensive factory part equipment was needed yesterday - use the smart solution from Durwen in future!

Check out our new website and get in touch with us today! 

Product and service backup MADE IN GERMANY!
You might want to check out our service portal as well – it backs you up 24/7!

Words of support …

The cooperation with Forkliftaction has been exceptional. It's always a pleasure to work with specialists who know the inside out of the industry

Ane Miren Elorza, Communications Specialist

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Industrial processes in paper and waste processing involves strapped bale handling and de-wiring. Durwen provides the smart solution for the industry, with its fully Durwen designed and made de-wiring bale clamp. Expensive factory part equipment was needed yesterday - use the smart solution from Durwen in future!

Check out our new website and get in touch with us today! 

Product and service backup MADE IN GERMANY!
You might want to check out our service portal as well – it backs you up 24/7!

PREMIUM business

Bolzoni SpA (Group HQ)
Manufacturer of Lift Truck Attachments, Forks and Lift Tables, with the most extensive range in the market.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Industrial processes in paper and waste processing involves strapped bale handling and de-wiring. Durwen provides the smart solution for the industry, with its fully Durwen designed and made de-wiring bale clamp. Expensive factory part equipment was needed yesterday - use the smart solution from Durwen in future!

Check out our new website and get in touch with us today! 

Product and service backup MADE IN GERMANY!
You might want to check out our service portal as well – it backs you up 24/7!

Inside The News
In this week’s Forkliftaction News we report on the recent IMHX event in Birmingham with coverage of new product launches, key themes and observations from those attending. We also name the winners of the 2025 Archies Awards, held in conjunction with IMHX... Continue reading

PREMIUM business

Bolzoni SpA (Group HQ)
Manufacturer of Lift Truck Attachments, Forks and Lift Tables, with the most extensive range in the market.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET