Hyster-Yale buys major stake in Maximal
Hyster-Yale Materials Handling has entered into a definitive agreement to acquire 75% of the outstanding shares of, and a controlling interest in, Zhejiang Maximal Forklift Company Limited through an indirect wholly owned subsidiary.
The stock is currently held by KNSN Pipe and Pile Company Limited and the price has been set at USD90 million, funded using Hyster-Yale’s cash on hand.
The remaining 25% share of the new company, which will be named Hyster-Yale Maximal Materials Handling Co., Ltd, remains in the hands of Zhejiang Maximal Forklift senior management through Y-C Hong Kong Holding Company Limited.
Maximal, a privately held, Chinese OEM for utility and standard forklifts and specialised materials handling equipment which was founded in 2006, produces equipment under the Maximal and SAMUK brands. Maximal also designs and produces specialised products in the port equipment and rough-terrain forklift segments.
Dec 6th, 2017 summarized from DEMO on Hyster-yale issue