Cleveland, Ohio, April 6, 2016 - Hyster-Yale Group, Inc. today announced that it acquired Speedshield Technology, Pty Ltd's telematics installation and distribution businesses in the United States and the United Kingdom. This acquisition provides Hyster-Yale with the exclusive distribution rights of these businesses' products in all areas outside of Australia. Following this acquisition, the acquired businesses will be rebranded as HYG Telematic Solutions.
Speedshield Technology, located in Melbourne, Australia, is a leading provider of advanced and comprehensive telematics technology for material handling equipment, as well as other fleet vehicle applications. Today, Speedshield Technology is the sole authorized provider of telematics products to Hyster-Yale customers, under the Yale Vision and Hyster Tracker telematics product offering.
Following the acquisition, Hyster-Yale intends to further develop its capabilities and enhance its efforts to service the fast growing market for telematic solutions and fleet data analytics for material handling fleets. The telematics application is currently offered in all new Hyster® and Yale® lift trucks and is able to be retrofitted into existing Hyster® and Yale® lift trucks, as well as lift trucks and allied equipment from other manufacturers.
Over the past few years, Hyster-Yale has focused on increasing unit volume through market share gains by delivering lowest cost of ownership to customers in a wide range of applications. In this context, the Company has been evaluating and investing in a broad range of technologies which will enhance the customer's lift truck ownership experience. The purchase of this business is a strategic acquisition which is expected to provide a solid platform to expand the Company's offering of Hyster® and Yale® fleet management solutions.
About Hyster-Yale Group, Inc. Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Nuvera Fuel Cells, LLC, a subsidiary of Hyster-Yale Group, Inc., is an alternative-power technology company focused on fuel-cell stacks and related systems, on-site hydrogen production and dispensing systems. Hyster-Yale Group, Inc. is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE: HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 5,500 people worldwide. For more information about Hyster-Yale and its brands, visit the Company's website at www.hyster-yale.com.
About Speedshield Technology, Pty Ltd.
Speedshield Technologies Pty Ltd is a leading safety, telematics and control company operating in the industrial equipment space. Speedshield strives to develop high technology solutions to improve all aspects of fleet management, benefiting all levels of organizations. Pioneers in the field of connected devices, based in Australia and serving the global industrial equipment market for over a decade, Speedshield continues to innovate and engage with our clients to provide class leading technology and valuable solutions every day.
To learn more about Speedshield please visit their website at www.speedshield.com.