Hyster-Yale announces commitment to Build America, Buy America requirements for electric container handling and forklift equipment
GREENVILLE, N.C., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Hyster-Yale Materials Handling, Inc. announces its plans to fulfill the domestic manufacturing requirements of the Build America, Buy America (BABA) Act for key portions of its product lineup. The maker of Hyster® and Yale® brand forklift trucks and container handling equipment plans to expand its existing American manufacturing with a targeted set of high-capacity models, including electric options, that align with the needs of infrastructure projects subject to BABA requirements. The company's plans include determining the optimal production location in the United States, strategically expanding sourcing agreements to meet local material requirements and further developing electric power options for high-capacity equipment.
"Our leadership is fully invested in meeting the needs of businesses that require BABA-compliant material handling solutions," says Tony Salgado, Chief Operating Officer, Hyster-Yale. "We are working to partner with our key domestic suppliers, as well as identifying how best to leverage our own American manufacturing footprint to deliver a competitive solution for our customers and stakeholders. But beyond mere compliance, and in line with the many areas of our business where we are evolving to better support our customers, our commitment remains steadfast. We are dedicated to delivering industry-leading standards in design, durability and performance — qualities that have become synonymous with our brands worldwide and that our customers have come to rely on and expect."
The BABA Act is a piece of legislation aimed at increasing the use of American-made materials in federally funded infrastructure projects across the United States. It was enacted as part of a broader effort to boost domestic manufacturing and economic growth, and mandates that federal dollars allocated to infrastructure – such as roads, bridges, ports and public transit systems – must prioritize materials produced in the USA, including critical items like steel, iron and various construction materials.
Hyster-Yale operates an extensive footprint in the U.S. spread across 10 locations, including three manufacturing facilities. The Hyster and Yale brands have hundreds of years of combined history in the U.S., with innovative milestones like Yale introducing the industry's first electric low-lift platform truck in 1919 and the revolutionary Hyster MONOTROL® pedal for speed and direction control in 1959. Today, the company provides a full line of material handling and port equipment tailored to address the challenges of critical supply chain applications, from demanding port settings to fast-paced warehouse environments.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, attachments, aftermarket parts and technology solutions marketed globally primarily under the Hyster® and Yale® brand names. Subsidiaries of Hyster-Yale Materials Handling include Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names and Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel cell stacks and engines. Hyster-Yale Materials Handling also has an unconsolidated joint venture in Japan (Sumitomo NACCO). Hyster-Yale Materials Handling, Inc., is a wholly owned subsidiary of Hyster-Yale, Inc. (NYSE:HY). For more information about Hyster-Yale and its subsidiaries, visit the Company's website at www.hyster-yale.com.
©2024 Hyster-Yale Materials Handling, Inc. all rights reserved. Hyster-Yale, Hyster and Yale are trademarks of Hyster-Yale Materials Handling, Inc.
Jennifer Timblin Hyster-Yale Materials Handling 252-412-4322 [email protected] Dan Gauss Koroberi 336-409-5391 [email protected]