NACCO Industries

NACCO Industries, Inc.
legal form	Incorporated
ISIN	US6295791031
founding	1913
Seat	Cleveland , United States
management	JC Butler, CEO
Number of employees	2,300
sales	104,780,000 USD
Branch	coal
Website	www.nacco.com
As of December 31, 2017

Freight wagons with NACCO inscription at St. Valentin station (2018)

NACCO Industries is an American holding company that essentially only owns the North American Coal (NACoal). Nacco operated as a highly diversified conglomerate until the 2010s.

Revenue by segment in million $ (2015)

history

In 1913, Frank E. Taplin bought the Cleveland and Western Coal Company. In 1925, when the Powhatan Mining Company was taken over, it changed its name to North American Coal Corporation, or NACCO for short.

In 1986 the company renamed itself NACCO Industries and decided to diversify . In 1985 and 1989, industrial truck manufacturers Yale Materials Handling Corp. and Hyster Company. In 1989 the home appliance manufacturer Proctor-Silex was added.

The "NACCO Materials Handling Group" was spun off in 2012 as Hyster-Yale . With this, NACCO Industries lost the majority of its sales. Nacco SAS, Europe's largest leasing agency for tank wagons , was taken over by the CIT Group in 2014 and passed on to VTG AG in 2017 .

In September 2017, the Hamilton Beach Brands Holding Co. was spun off from Nacco. Since then, Nacco has been exclusively active in coal mining.

Former divisions

• Hyster-Yale , manufacturer of materials handling equipment and forklifts, spun off in 2012.
• NACCO SAS, leasing company for railway wagons, sold to the CIT Group in 2014 .
• Hamilton Beach, manufacturer of kitchen utensils and appliances, split off in 2017.

Individual evidence

1. ↑ ^{a b} 2017 Form 10-K Report , accessed on July 22, 2018
2. ↑ Annual report 2014
3. ↑ Company history at fundinguniverse
4. ^ Robert Schoenberger: Nacco to spin off Hyster-Yale material handling group to its shareholders. In: cleveland.com. June 28, 2012, accessed July 20, 2015 . 
5. ↑ CIT Acquires European Rail Lessor NACCO SAS. (No longer available online.) In: CIT Press Releases. February 3, 2014, archived from the original on August 22, 2015 ; Retrieved July 20, 2015 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  
6. ^ NACCO Industries, Inc. And Hamilton Beach Brands Holding Company Announce Completion Of Spin-Off , at www.nacco.com , accessed July 22, 2018