Hyster-Yale Materials Handling Inc. said today that its wholly owned operating subsidiary, NACCO Materials Handling Group Inc., a designer and manufacturer of lift trucks and aftermarket parts, will change its name to Hyster-Yale Group Inc. on Jan. 1.

The new Hyster-Yale Group Inc. name and logo will debut Jan. 1, 2016.

In conjunction with the name change, Cleveland-based Hyster-Yale Materials Handling Inc. and Hyster-Yale Group, Inc. will adopt a new corporate logo, effective Jan. 1.

NACCO primarily markets its global product line under the Hyster and Yale brand names.

In a statement, the parent said the name change is aimed at reinforcing Hyster-Yale Group's position as the operating company under Hyster-Yale Materials Handling Inc., and to eliminate any confusion stemming from the use of NACCO in the operating-company name subsequent to the 2012 spin-off of Hyster-Yale Materials Handling from NACCO Industries Inc.

"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," Colin Wilson, NACCO's president and CEO, said in the statement.