NACCO Proposes Spin-Off of Hyster-Yale Materials Handling
Hyster-Yale Materials Handling announced it has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed spin-off by NACCO Industries of its materials handling business to NACCO stockholders.
Hyster-Yale Materials Handling, as an independent public company, will own and operate the NACCO Materials Handling Group (NMHG) subsidiary of NACCO Industries. Because no stock will be issued in connection with the spin-off, NACCO Industries will not receive any proceeds from the spin-off.
As a result of the spin-off, NACCO stockholders will receive shares in Hyster-Yale Materials Handling, in addition to retaining their shares of NACCO Industries common stock.