News story

Changes in top six and three companies leave

Thursday, 3 February 2011 ( #499 ) - Esslingen, Germany
There have been changes in the top six positions in dhf-intralogistik's latest world ranking of forklift manufacturers and three companies have left the list, bringing the total number of listed companies to 36.

Toyota and KION Group remain the leading companies in the list, although both suffered big drops in revenue last year. Toyota's forklift sales totaled EUR3.39 billion (USD4.68 billion), compared to the previous year's EUR4.84 billion (USD6.70 billion); while KION Group sold EUR3.08 billion (USD4.25 billion) of forklifts, compared to EUR4.55 billion (USD6.29 billion) the year before.

Jungheinrich, which was previously ranked fourth, came in third with EUR1.53 billion (USD2.12 billion) in forklift sales. US manufacturer Crown, with its EUR1.18 billion (USD1.63 billion) in forklift sales, jumped two spots to be placed fourth, ousting NACCO Industries Inc, which produces the Yale and Hyster forklifts and dropped to fifth, selling EUR1.02 billion (USD1.40 billion) of forklifts. Cargotec, which makes Kalmar and Hiab forklifts, moved down one place to be ranked sixth in this year's list.

Other notable movements in the list include Japanese company Nichiyu and Chinese powerhouse Heli, both of which moved up three places to rank 11th and 14th, respectively. South Korean-owned Clark Material Handling Company dropped four places to be ranked int 16th place this year.

European names Rocla, Carer and ČZ Strakonice have left the list. Finnish supplier Rocla became a subsidiary of Mitsubishi Caterpillar Forklift Europe BV at the end of 2008 while Italian company Carer failed to provide data.

Dhf editor Wolfgang Degenhard said Carer was in financial turmoil due to the "difficult economic situation in Italy and the even more difficult credit policies of the Italian banks".

It is understood by Degenhard that on 10 December 2009, Carer srl in Cotignola bought the Carer brand and the company's projects and know-how. The company expects to be in the next (2010/2011) ranking list.

Meanwhile, Czech publicly listed company ČZ Strakonice, which was ranked 33rd in the last list, did not respond to dhf's repeated inquiries and was also left out this year.

Degenhard explains that his world ranking list varies from year to year, not just in terms of the order of companies but the companies that are included. "The reasons for this are the reactions from our readers, differing reactions of the companies and our own research."

Unlike last year's list ( News #449), there are no newcomers this time and Degenhard says he would have liked to have included more Chinese companies like the Hytsu Group and Ningbo Ruyi Joint Stock. "Curiously, the manufacturers from China were especially reluctant to provide data, even the companies which had provided in the past year."

The ranking list was compiled using a combination of questionnaires, companies' financial statements in annual reports and internet research.

Manufacturers are required to have a minimum turnover of EUR10 million (USD13.8 million) during the year in review to be included in the world ranking list.

"Practically all which meet the minimum turnover criterion are pleased about being included in this ranking list and often use it regularly for their own marketing development purposes," Degenhard says.

He points out that his ranking list only refers to the company turnovers in the fiscal year in question and does not offer any information on the number of units that have been delivered.

"There are manufacturers, including some large ones who do not want to participate in the ranking list. This list therefore does not claim to be complete," Degenhard cautions.

Click here to see the ranking list
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