PRESS RELEASE: Barloworld exits US market – Briggs Equipment and LiftOne to sell Hyster Lift Trucks

d5admin January 25, 2012

Greenville, N.C. (January 25, 2012) – Some time ago, Barloworld advised NACCO Materials Handling Group of their strategic intent to consider exiting the materials handling business in the United States. Over the past several months, NACCO has worked with Barloworld to enable them to negotiate the sale of their materials handling business in the United States.

NACCO is pleased to announce that letters of interest to acquire Barloworld US operations have been executed with two parties. Both parties have been approved by NACCO Materials Handling Group, and are confident they will provide first class representation for the Hyster® brand and exceptional support to Hyster customers, while being valued additions to the Hyster dealer network.

Briggs Equipment Inc.

Briggs is the current Yale® dealer in Texas, and parts of Alabama, Georgia, Mississippi and Louisiana. Briggs also represents Yale in the U.K. and Hyster and Yale in most of Mexico. Briggs will now represent Hyster Company in Florida, Arkansas and portions of North Carolina, South Carolina, Georgia, Alabama, Tennessee and Mississippi.

LiftOne

LiftOne, a Division of Carolina Tractor and Equipment Company who have their headquarters in Charlotte, N.C., will become the Hyster dealer in portions of North Carolina, South Carolina, Georgia, Alabama, Virginia and Tennessee. LiftOne will transition from existing competitive supplier relationships when appointed to represent the Hyster brand.

NACCO looks forward to welcoming Briggs and LiftOne to the Hyster network in the United States upon completion of the proposed transactions and execution of dealer agreements for the assigned territories.

The transactions remain subject to due diligence, and are expected to close by March 31, 2012. NACCO will make further announcements concerning this transition as soon as they are able.