Hyster to supply 10 zero-emission battery electric terminal tractors to APM Terminals
Hyster Company announced an agreement to provide APM Terminals with 10 battery-powered terminal tractors for their location at the Port of Mobile in Alabama. The electric terminal tractors, which are scheduled to be delivered in 2024, are part of a $60 million investment in port equipment electrification pilots by APM Terminals. “We have made an industry-leading commitment to be net zero across scopes one, two, and three by 2040,” says Jelle Burger, Program Lead for Electrification Pilots, APM Terminals. “Decarbonizing our container handling equipment is a critical component of our progress towards those targets. Hyster has been a trusted resource for container handling equipment, and our collaboration will help us to expand this global effort with the first Hyster electric terminal tractors in North America.” The electric terminal tractors are designed to provide a zero-emission option to help the terminal, and other port and distribution operations, achieve clean energy targets while maintaining diesel-like performance levels. Each tractor will be powered by a 260-kilowatt-hour lithium-ion battery, which is expected to provide about 9.5 hours of continuous run time on a full charge. “We are seeing a clear demand for zero-emission port equipment, including terminal tractor options. Our long history of electrifying forklifts and our ground-breaking work to electrify container handling equipment positions us to bring expertise and learnings to terminal tractors, so we are stepping in to deliver,” says Niek Willems, Manager, Big Truck Global Accounts, Hyster. “In doing so, we are reinforcing our commitment to provide clean power choices that allow businesses pursuing emission reductions to access the solution that is most effective and appropriate for their unique application, without compromise.” The terminal tractors will operate as a gang, serving as a ship-to-shore crane at APM Terminals Mobile, a world-class, high-productivity terminal connecting sea, road, and rail from the U.S. Gulf Coast. As the crane unloads containers from the ship, the tractors will transport laden and unladen containers between the crane and the yard. Each tractor has an 182,000-pound gross combined weight rating. The electric terminal tractors, which Hyster has worked with Capacity Trucks to develop and will be built in Texas, represent one of several clean power-focused port equipment projects that the company is engaged in.
Yale account executive honored as an emerging leader in food and beverage supply chain
Forklift manufacturer’s director of major accounts recognized for industry expertise and prioritization of customer solutions Yale Lift Truck Technologies announced that Brendan McCann, Director of Major Accounts for Food Processing and Distribution, has been named a Rock Star of the Supply Chain by Food Logistics magazine. McCann is a winner in the rising stars category, which honors exceptional professionals under the age of 40. McCann leads a team responsible for providing lift truck solutions to 165 of the largest food processing, distribution and agriculture operations in North America, including more than 14,600 logistics locations. McCann firmly embodies the brand’s customer-driven philosophy by immersing himself in the challenges his customers face. He gathers insight and produces tailored recommendations, from plans targeting near-term productivity gains to holistic, long-term roadmaps that guide customers through the adoption of advanced lift truck technologies like operator assist systems and automation as their business evolves. In one instance, McCann helped a large customer design a new distribution center. The customer’s initial plans called for a footprint of more than 1 million square feet and more than 100 forklifts. By understanding the customer’s throughput and growth goals, McCann determined an alternative approach, with a footprint under 500,000 square feet and fewer than 40 forklifts, could save the customer millions in building costs while accomplishing their productivity goals with less equipment and space. Before joining the team at Yale, McCann was a Senior Account Manager for Briggs Equipment, a Yale® dealer, where he was named Salesman of the Year in 2017. During his tenure with the company, he was based in Gainesville, Georgia, “the poultry capital of the United States.” There, McCann built a deep foundational understanding of agriculture, food and beverage operations that he leverages every day and very intentionally shares with members of his team. “Anyone can put a lift truck in a building,” says McCann. “At Yale, it’s really about identifying or developing the right solutions to make a meaningful difference. Within my team, my ultimate goal is to instill in others my passion for helping customers overcome challenges and optimize their supply chain operations, and I’m honored that Food Logistics recognized the value in that approach.”
Mitsubishi Logisnext Americas honors the recipient of the 20th Annual Cat® Lift Trucks Scholarship
Mitsubishi Logisnext Americas, a North American provider and manufacturer of material handling and innovative automation and fleet solutions, announced the recipient of its 2024 Cat® Lift Trucks Scholarship Program. This year’s $5,000 scholarship winner is Cardin Tuan Kiet Tran, a high school senior at Davis High School in Houston. Cardin plans to major in civil engineering at Rice University, bringing with him a track record of leadership and involvement. Cardin is actively shaping his community as the Founder of the Davis High School Environmental Club and President/Editor-in-Chief of the Falcon Gazette Newspaper Club. His commitment extends to organizations such as the City of Houston Youth Ambassadors, National Technical Honor Society, Norman Borlaug Youth in Agriculture Program, and Child-Friendly Cities Initiative. Notably, Cardin’s impact was recognized for being the most effective student in promoting secondary education via trade schools at Lone Star and received an outstanding student award for Algebra II, OnRamps Physics, AP World History, and more. Today, Mitsubishi Logisnext Americas surprised Cardin at his high school, presenting him with a $5,000 check and complimentary Houston Livestock Show and Rodeo™ tickets for him, his family, and a teacher who inspired his educational journey. As someone passionate about urban and transportation centers, Cardin hopes to learn ways to build environmentally friendly infrastructure to serve society better. “Our applicants were outstanding this year, but Cardin’s vision for the future and dedication to STEM truly makes him a role model for future high school seniors,” said Jerry Sytsma, executive vice president, sales & aftermarket services at Mitsubishi Logisnext Americas. “We are committed to investing in students’ education as they are the future generations in our industry. It has been incredible to see the achievements of our scholarship recipients over the past 20 years.” Mitsubishi Logisnext Americas has been actively contributing to the Greater Houston community by honoring exceptional high school seniors pursuing a four-year degree related to the material handling industry. Over the past two decades, the Cat Lift Trucks Scholarship Program has awarded $145,000 in educational assistance to 29 Houston area students. To learn more about Mitsubishi Logisnext Americas, please visit logisnextamericas.com.
MHS Lift earns Summit Award from Crown Equipment Corporation for outstanding sales performance
MHS Lift, Inc., a provider of warehousing and distribution solutions across North America, has received the prestigious 2023 Summit Award from Crown Equipment Corporation, one of the world’s largest material handling companies. Crown’s Summit Award recognizes outstanding sales and customer satisfaction achievements in its North American sales and service network. To qualify for the Summit Award, the company must be a Crown dealer and be considered the Best Dealer by market size. This is MHS Lift’s eighth Summit Award. “We are thrilled to receive the Crown Summit Award for our eighth year,” said Brett Levin, co-president, of MHS Lift. “Crown Equipment Corporation is a close partner of ours, and it’s an honor to be recognized by them.” “Receiving this award is proof to our team that hard work pays off – and our staff has been working tirelessly to provide top-notch service to our customers every day. We owe this accomplishment to them,” said Andy Levin, co-president, of MHS Lift.
Wolter, Inc. secures strategic growth investment from BBH Capital Partners
Wolter, Inc., a provider of material handling solutions, automation, overhead cranes, industrial dock and door services, and power systems, is thrilled to announce a significant growth investment from BBH Capital Partners (BBHCP). This strategic partnership will enable Wolter to accelerate its expansion plans, including acquisitions and real estate investments, further solidifying its position in the industry. Founded in 1962 and based in Brookfield, WI, Wolter has become a trusted name in the material handling industry, offering an expansive range of services and solutions, including new and used equipment sales, service and training, robotics and automation, overhead cranes and hoists, standby power generators, and more. With a dedicated team of over 590 employees, Wolter serves a broad customer base across seven states, including Wisconsin, Northern Michigan, Indiana, Ohio, and Kentucky, with plans to expand into the mid-Atlantic, Southeast, and mid-South regions. Jerry Weidmann, President of Wolter, Inc., expressed his enthusiasm about the partnership, stating, “Our alliance with BBH Capital Partners marks a milestone in Wolter’s journey. Their investment and expertise will significantly enhance our ability to pursue strategic acquisitions and make impactful real estate investments, enabling us to serve our customers better and expand our market presence.” BBH Capital Partners, a private equity strategy of Brown Brothers Harriman & Co., is known for providing capital solutions to growth-oriented middle-market companies. Their minority investment in Wolter underscores their confidence in Wolter’s potential for continued growth and expansion. Matthew Salsbury, Co-Manager of BBHCP, commented, “We are proud to partner with Wolter and support their ambitious growth strategy. The company’s strong family values, commitment to excellence, and strategic vision align perfectly with our investment philosophy. We look forward to contributing to Wolter’s success in the coming years.” Robert W. Baird served as the exclusive investment banker for Wolter in this transaction, underscoring the strategic importance and potential of the partnership between Wolter and BBHCP. This investment is poised to continue making a significant impact on the material handling, overhead crane, industrial dock and door, and power systems sectors.
Toyota’s Brett Wood re-elected as Chairman of Industrial Truck Association
Toyota Material Handling North America President and CEO, Brett Wood, serves a second term as Industrial Truck Association Chair Toyota Material Handling North America President & CEO (TMHNA) Brett Wood remains at the forefront of the material handling industry as the second individual in the 70-year history of the Industrial Truck Association (ITA) to be elected twice as Chair of the Board of Directors, effective January 1. Wood has served in various roles during his three decades with the ITA. During his first term as ITA chairman from 2015 to 2018, Wood was pivotal in establishing the ITA’s economic impact report Lifting America: The Economic Impact of Industrial Truck Manufacturers, Distributors and Dealers. This marked a significant milestone as the first-ever initiative to quantify material handling statistics that provide invaluable insights to the industry. “I am honored to serve as a champion for the ITA, to drive positive change and promote the impact of the powered industrial truck industry,” said Wood, who also serves as a Senior Executive Officer for TMHNA’s parent company – Toyota Industries Corporation. “The ITA serves as an invaluable resource to its members, creating industry-wide initiatives and driving positive change for the collective whole and all who work closely with powered industrial trucks.” As chair, Wood collaborates with the executive board to determine ITA’s strategy, communicates the association’s position on industry issues and drives industry-wide initiatives, and promotes the positive impact the powered industrial truck industry has on the global supply chain. By embodying Toyota’s culture of Kaizen – or continuous improvement – and upholding Toyota’s core values, Wood’s leadership is integral in advancing and promoting the vital role industrial trucks play in manufacturing, warehousing, logistics, and distribution. “We are thrilled to welcome Brett as the Chair of the ITA’s Board of Directors,” said Brian Feehan, President of ITA. “His leadership and deep industry expertise will be invaluable assets as we continue to drive member value and raise awareness on safety.” Wood championed the founding of National Forklift Safety Day, an annual event dedicated to reinforcing safety protocols and practices among forklift manufacturers. The 11th National Forklift Safety Day will be held on June 11, 2024, in Washington, D.C. This initiative continues to serve as a testament to Wood’s commitment to prioritizing operator safety and promoting safety standards.
Forklift-International and Material Handling Wholesaler will be at MODEX 2024
Forklift International.com and Material Handling Wholesaler will have a booth at MODEX 2024 on March 11 – 14 in Atlanta, GA. All industrial equipment dealers should stop by booth #B7214 and demo the Forklift software and see how you can get your equipment online, plus much more. There will be a special offer for dealers who sign up for an annual dealer membership. Stop by the booth for details. Forklift-International.com is the largest online market for used forklifts, attachments, and work platforms.
Bobcat showcases the future of its material handling solutions at MODEX 2024
Booth features the company’s latest forklifts, including new hydrogen fuel cell prototypes From electric and internal combustion machines to new hydrogen prototypes, Bobcat Company is showcasing the future of its material handling solutions at MODEX 2024. Located in booth B2822 (Building ABC, Level 1), the Bobcat booth will feature solutions designed to handle various unique material handling challenges. Bobcat offers a full range of diesel, gas, liquid propane gas, and electric forklifts, with capacities ranging from 3,000 to 55,000 pounds. On display at MODEX 2024, Bobcat will feature: B20SU-9 Cushion Electric Stand-up Rider 3,000- to 4,000-pound capacity Stand-up configuration Guardian Stability System (GSS) 36-volt electric counterbalance Reliable all-AC power BR20SP-7 Plus Electric Pantograph Reach Truck 3,500- to 4,000-pound capacity Narrow-aisle specialty Guardian Stability System (GSS) All AC electric system BOP15S-9 Electric Order Picker 3,000-pound capacity Small chassis size perfect for narrow aisles Height and descent proximity sensors Available mast heights up to 300 inches 24-volt AC system D70S-9 Diesel Pneumatic Forklift 13,500- to 20,000-pound capacity Shift ProTek hot-shift transmission protector Bobcat will also showcase hydrogen fuel cell-powered forklift prototypes within the booth. Hydrogen fuel cell forklifts offer longer operating times and faster refueling, making them ideal for applications that require extended use and quick refueling turnaround. For warehouses operating multiple shifts, the hydrogen fuel cell forklift is a viable option to reduce carbon footprint while still meeting the operational needs to run longer hours with no charging required. Prototypes on display at MODEX include: B35X-7 Hydrogen Pneumatic Forklift Prototype This hydrogen forklift prototype would function similarly to the currently commercialized B35X-7 electric pneumatic forklift but powered by hydrogen rather than an electric battery. 7,000-pound capacity BER30S-9 Hydrogen Rider Pallet Jacks Forklift Prototype This hydrogen prototype would function similarly to the currently commercialized BER30-9 electric rider pallet jacks but powered by hydrogen rather than an electric battery. 6,000-pound capacity While still in the development phase, Bobcat is exploring hydrogen for use across its forklift range. More information on hydrogen fuel cell forklifts’ availability will be forthcoming. Bobcat forklifts and warehouse vehicles are new in their branding, but not in their legacy, as the product line transitioned to the Bobcat brand in early 2024 from its former brand of Doosan Industrial Vehicle.
National Fleet Products’ FuelScoop has an aerodynamic design that reduces fuel consumption by more than 15 percent
National Fleet Products’ FuelScoop cab fairing immediately saves fuel, improves vehicle stability, enhances vehicle handling, reduces driveline wear, significantly decreases CO2 emissions, and requires no drilling to install. National Fleet Products has announced that its FuelScoop aerodynamic rooftop and air-deflecting cab fairing will now be available for virtually all makes and models of medium-duty dry-freight box trucks. FuelScoop is lightweight yet strong uses factory mounting points when available, and is otherwise adhesively bonded, precisely matching a vehicle’s unique roof contours, so no drilling is required for installation. FuelScoop will be displayed to the industry during NTEA Work Truck Week 2024, March 5–8, 2024, in the National Fleet Products booth 6333. Many OEM cab fairings for medium-duty dry-freight box trucks require drilling through roof skins and the application of welded brackets to secure metal frames for structural support. Putting holes in cab roofs frequently causes leaks and corrosion. While the more primitive fairings’ rudimentary shapes help direct air up and over the cab, they do little or nothing to prevent turbulence and aerodynamic drag on either side of the vehicle. FuelScoop pairs with its intended roof contours exactly and is bonded with structural-grade adhesives often used in trailer body construction and in other heavy-duty applications worldwide. The design equally distributes FuelScoop’s weight across the entire roof surface, and the combination of precision fit and high-strength adhesion eliminates the need for drilling and is considered 100 percent reliable. “FuelScoop’s aerodynamic profile is superior to other fairings and addresses the side turbulence and drag associated with other styles,” Steven Peterson, president of National Fleet Products, said. “Its design includes a unique, signature configuration that not only directs airflow over the vehicle, but outward and around both sides. The resulting smooth, streamlined laminar airflow minimizes turbulence and drag, reducing driveline stress, while allowing the vehicle to move far more fuel efficiently.” Peterson said that FuelScoop can reduce a vehicle’s fuel consumption by more than 15 percent, while dramatically improving vehicle handling and stability. Users can typically expect to recoup the entire cost of the product within 12 months or less. “We see tires that advertise a few percentage points of fuel savings, and aerodynamic mudflaps and other devices that save one percent,” said Peterson. “With its more than 15 percent average fuel savings, FuelScoop offers users instant value that is both significant and easily measurable.” Peterson described what users can expect. “A vehicle driving 40,000 miles at 10 miles per gallon will use approximately 4,000 gallons of fuel. That 4,000 gallons will cost approximately $3.70 per gallon of diesel or roughly $14,800 of fuel per year,” he said, “With 15 percent savings from FuelScoop, users save $2,222 or 600 gallons of fuel per vehicle, so a fleet of 100 vehicles would save 60,000 gallons of fuel, netting it approximately $220,000 per year in savings. That’s $220,000 directly to a fleet’s bottom line,” said Peterson. Peterson also suggested that in an increasingly environmentally conscious and greening commercial vehicle landscape, FuelScoop can make a vehicle and a fleet greener overnight. He explained that every saved gallon of fuel prevents 20 pounds of CO2 from entering the atmosphere. So the 600 gallons of fuel saved by just one vehicle means a reduction of 12,000 pounds of CO2 and an overall reduction of 600 tons of CO2 for a fleet of 100. FuelScoop comes in a compact, palletized kit consisting of one base, one center panel, and two side panels. Assembling the lightweight FuelScoop takes just 30 minutes, and no special tools are required. Whether using factory roof mounts with Japanese model trucks, or an adhesive system for U.S. domestic model trucks, FuelScoop takes just 30 minutes to install. For those with refrigerated box trucks, National Fleet Products also offers its FridgeScoop, an aerodynamic fairing designed exclusively to accommodate vehicles with refrigeration units that overhang their cabs. The smaller-profile FridgeScoop offers many of the same advantages of FuelScoop, while still enabling easy access to refrigeration units. It also deflects insects away from refrigeration unit air intake manifolds. “With FuelScoop, we have had fuel reductions as high as 27 percent reported, so the opportunity for monumental savings is there for fleets and independent operators alike,” said Peterson. “FuelScoop is ideal for any vehicle that regularly travels at speeds over 30 to 35 mph, and as the speed increases so do the fuel savings, with trucks traveling at freeway speeds often saving more than 20 percent. It also provides a very large and visible surface for brand graphics.”
KION Group ends FY 2023 strong
Strong financial year 2023: KION more than doubles adjusted EBIT and margin with outstanding free cash flow Record level revenue of € 11.434 billion (2022: € 11.136 billion) Adj. EBIT more than doubled to € 790.5 million (2022: € 292.4 million) Adj. EBIT margin of 6.9 percent (2022: 2.6 percent) Outstanding free cash flow of € 715.2 million (2022: € -715.6 million) Dividend proposal of € 0.70 per share (2022: € 0.19) KION Group significantly increased its profitability and free cash flow in 2023, closing the financial year with very good results in earnings – despite a decline in global demand for industrial trucks and supply chain solutions. The strong momentum was mainly driven by supply chain improvement measures in both segments, commercial actions in the Industrial Trucks & Services segment and project management process improvements in the Supply Chain Solutions segment. ”In 2023, the KION Group benefited from a year of delivering on our strategy as we took further significant steps along our path to sustainable and profitable growth,“ says Rob Smith, CEO of KION GROUP AG. ”We significantly improved profitability in both our business segments and for KION. The substantial progress in our results, the commercial and operational agility measures, and the changes of our organizational and leadership setup form a strong basis for our future business success.“ At € 11.434 billion, Group revenue grew slightly by 2.7 percent (2022: € 11.136 billion) and reached a record level. Revenue development differed across both operating segments. The Industrial Trucks & Services segment grew significantly by 15.3 percent to € 8.480 billion (2022: € 7.356 billion), mainly driven by higher production levels as well as price increases implemented in the previous year. The service business also grew. Revenue in the Supply Chain Solutions segment declined by 21.3 percent to € 2.997 billion (2022: € 3.807 billion), mainly driven by subdued customer demand in the project business (Business Solutions) over the previous quarters. The increased cost of capital had a negative impact on customers’ investment decisions for the construction of new warehouse space and therefore also on investments in warehouse automation. The stable and higher-margin service business (Customer Services) grew in the reporting period. Adjusted EBIT at Group level increased significantly and more than doubled to € 790.5 million (2022: € 292.4 million). The adjusted EBIT margin thus improved significantly to 6.9% (2022: 2.6 percent). The Industrial Trucks & Services segment again achieved a double-digit adjusted EBIT margin of 10.0 percent, corresponding to an adjusted EBIT of € 848.5 million (2022: € 420.5 million). Following a loss in the previous financial year, the Supply Chain Solutions segment achieved a positive adjusted EBIT margin of 1.5 percent with an adjusted EBIT of € 44.3 million (2022: € -45.6 million). Net income tripled to € 314.4 million (2022: € 105.8 million). Free cash flow reached a strong € 715.2 million (2022: € -715.6 million), due to overall good earnings and improved working capital management during the end of the year. KION shareholders will benefit from the strong financial year 2023: The Executive Board and Supervisory Board of KION GROUP AG will propose a dividend of € 0.70 (2022: € 0.19) per share for the 2023 financial year at the Annual General Meeting on May 29, 2024. This corresponds to a total dividend payout of € 91.8 million. The payout ratio amounts to around 30 percent with earnings per share of € 2.33 for the 2023 financial year. It is within the targeted payout corridor of 25 percent to 40 percent. Sustainability remains in the focus In July 2023, the KION Group committed to the goals of the Science Based Targets initiative (SBTi) to make the measures and successes on the way to climate neutrality transparent. As of 2023, the KION Group received an MSCI ESG Rating of AAA. This is the first time that the KION Group has achieved the top score and ranks among the top 10 per cent in its industry (Construction & Farm Machinery & Heavy Trucks). As at December 22, 2023, the KION Group ranked 94th percentile in its industry (“IEQ Machinery and Electrical Equipment”) in the S&P Global Corporate Sustainability Assessment 2023. With the “A-” award in the CDP Climate Change Rating 2023, which was awarded in February 2024, the KION Group underpins its leading position in sustainability. Detailed information can be found in the Non-financial Report 2023 of KION GROUP AG, which will be published today. (https://www.kiongroup.com/en/About-us/Sustainability/) Outlook The KION Group predicts slight growth in the market for new industrial trucks in 2024 based on order numbers. This will be driven mainly by an anticipated upturn in the APAC and EMEA regions, whereas demand is expected to decrease in the Americas region. The size of the supply chain solutions market, as measured by revenue, will slightly increase in 2024 according to the KION Group and backed up by research from Interact Analysis. The continuing trend toward automation and the anticipated fall in the cost of capital over the course of the year are expected to make companies more likely to invest in warehouse automation. Meanwhile, the predicted sustained demand for mobile automation is set to boost the market for supply chain solutions. The KION Group believes that the positive medium- and long-term trends in the supply chain solutions market remain intact. For 2024, reflecting the midpoint of the performance range that has been projected, the Executive Board of KION GROUP AG expects the Group’s revenue to increase slightly and its adjusted EBIT to rise significantly compared with 2023. Return on Capital Employed (ROCE) is expected to be slightly higher than in the previous year. Free cash flow in 2024 will be in positive territory in line with the expected healthy financial performance but will be below the high free cash flow of the previous year. In the Industrial Trucks & Services segment, a slight increase in revenue to between € 8.5 billion and € 9.0 billion is expected for the 2024 financial year. This is based on the good order backlog, an expected modest increase in order numbers in new business due to
Fairchild Equipment and IEWC Partner to support Feeding America Eastern Wisconsin with forklift donation
Fairchild Equipment, a provider of material handling equipment in the Upper Midwest, has announced its recent partnership with IEWC, a wire, cable, and wire management products, donate a Hyster forklift to Feeding America Eastern Wisconsin to help the organization fight hunger through its nationwide network of food banks. “As a company, we believe in being active in our communities and making a positive impact wherever we can. Donating this forklift to Feeding America is just one example of how we strive to live out our core values every day,” said Fairchild Equipment President Van Clarkson. “By donating this forklift, along with a collection of food items donated by our employees, to Feeding America, we hope to not only assist in their day-to-day operations but also contribute to their overall mission of fighting hunger in our community. We are proud to be able to support such a vital organization and hope that our donation will make a meaningful impact in their operations and the lives of those they serve,” Clarkson added. The initiative stemmed from a volunteer-day experience led by IEWC’s Chief Information and Digital Officer, Scot Stein, and his team. While volunteering at Feeding America Eastern Wisconsin, they identified a pressing need for a forklift to handle and distribute food donations efficiently. Moved by the organization’s mission and the immediate need, Stein connected with IEWC CEO Mike Veum and they reached out to Fairchild Equipment to partner on the initiative to find a solution. “When we witnessed the remarkable efforts of Feeding America firsthand and understood the logistical hurdles they overcome daily, we were inspired to lend a hand. Joining forces with Fairchild Equipment to refurbish and gift a forklift felt like a natural step in supporting this heartfelt mission,” Stein shared. “This gesture extends beyond a mere donation; it’s a commitment to helping countless individuals and families in our communities who depend on the vital support provided by Feeding America.” This donation is a powerful example of Fairchild Equipment’s and IEWC’s unwavering commitment to social responsibility and the betterment of their communities. By joining forces and utilizing their industry connections and resources, these two companies have significantly impacted Feeding America’s operations, underscoring the importance of private businesses working together to effect positive change in the communities where they operate. “We are thankful for the efforts of IEWC and Fairchild for making this forklift donation happen,” Feeding America Eastern Wisconsin Vice President of Development and Communications Scott Marshall said. “So much of what we do at Feeding America Eastern Wisconsin is affected by our logistics and machinery, and a forklift has been a very expensive need for us. This forklift will help to put thousands of meals on the table for Wisconsinites facing food insecurity. This is a prime example of the huge impact community partners can have on organizations like ours,” Marshall added.
Alta Equipment Group appoints Sidhartha Nair as Director
Alta Equipment Group Inc. has increased the size of the Board of Directors from five to six directors and subsequently appointed Sidhartha Nair to the Board, effective immediately. Sidhartha Nair is the Head of Strategy, Americas Region, for Mercedes-Benz Mobility and has led Strategic and Transformation activities in the U.S., Canada, and Mexico since December 2021. Mr. Nair first joined Daimler Financial Services in 2003 and has held roles of increasing responsibility during his tenure of more than 20 years in the U.S., Caribbean, and India business units. Before 2003, he held a previous role with McKinsey & Company as a consultant working on developing strategic solutions addressing growth, turnaround, and new market entry. Nair holds an MBA from the University of Michigan, Ross School of Business, and a Masters in Engineering from Purdue University. Nair brings global experience and knowledge of startups, new market entry, growth, and digital transformation of businesses at different periods in their life cycle. “Sid brings extensive business leadership experience as well as in-depth knowledge in digital transformation and business transformation in the automotive industry,” said Ryan Greenawalt, Chief Executive Officer and Chairman. “His expertise will be a significant boost to our ongoing initiatives. I look forward to the contributions he will make as part of the Alta family.” I am excited to join the Board of Alta and be part of its rapidly expanding growth and position in the market,” said Nair. “My experience should be beneficial to Alta’s diversified strategy to capitalize on the growth opportunities and cost-efficiency initiatives.”
Herc Rentals acquire MAC Equipment
Herc Rentals has acquired MAC Equipment in Albany, NY from Rob and Janice Miller. MAC Equipment was founded in 2001 by Rob Miller who rented aerial, forklifts, and telehandlers. Janice Miller joined the business in 2005. Janice Miller, Owner and Managing Member of MAC Equipment, LLC was elected President of the Northeastern Subcontractors Association (NESCA) for the 2021-2022 term. As of July 1, Janice has been serving as the 49th president of the association. Following several years of service on NESCA’s Board of Directors, she previously served as NESCA’s vice president and treasurer. In 2012 Janice became the majority owner of MAC Equipment, a certified WBE and DBE in New York, Massachusetts, and Vermont as well as a WBE in New York City, the Port Authority, and the City of Albany.
KION North America launches new electric forklift
The Linde series 1293 KION North America makes another addition to its product portfolio of powered industrial lift trucks. The Linde Series 1293 includes models E20BHP and E25BHP, electric counterbalance forklifts with 4,000 – 5,000 lb. capacity, and both powered by Linde Li-ION batteries. The next generation of material handling equipment across the world includes power sources such as this, proving an important balance between sustainable energy and energy efficiency. That means businesses don’t skip a beat when adopting more environmentally conscious practices. Developing trucks for the future means more than equipping the truck with an electric energy source. Linde Material Handling takes it a step further by engineering these models to compete where electric counterbalance forklifts typically cannot. After rigorous international standards testing, the Linde Series 1293 stands together with traditional internal combustion forklifts in day-to-day outdoor applications. The water-resistant design opens the door to outdoor stacking, storage, and transport. Like other Linde counterbalance trucks, the E20BHP and E25BHP have an ultra-durable, one-piece steer axle which greatly improves durability while driving over bumpy and uneven terrain. “The Linde 1293 is adaptable to a wide range of applications and customer types,” said Jena-Christine Lawrence, Director of Product Management & Product Strategy. “The E20BHP and E25BHP are powered by Linde lithium-ion batteries, and combine sustainable power with exceptional performance, making these models the ideal choice for both indoor and outdoor applications. We are proud to deliver another solution to North America that not only meets the evolving needs of our customers but also contributes to a greener and more efficient future.” In addition to the benefits that the E20BHP and E25BHP provide to applications switching to electric, there are also important features that lend to an easier, more comfortable operator experience. These models are outfitted with our standard full suspension seat and easy-to-reach seat-side mast control levers to assist operators in comfortably and accurately maneuvering throughout their shift. The dashboard features a 4.5-inch color display which keeps the operator informed of truck functions such as speed, state of charge, and many more. Lastly, the 1293’s easy-to-access Li-ION battery charging port encourages the operator to make use of opportunity charging, which extends the battery life over longer or several shifts.
Big Lift LLC acquires ePicker LLC
ePicker relaunched as EP to bring additional resources to growing dealer network Big Lift LLC has announced that it completed the acquisition of ePicker LLC, a fast-growing material handling equipment provider based in Fort Worth, Texas. Since its launch in 2021, ePicker has built an impressive network of industry-leading material handling distributors that market its portfolio of electric pallet jacks, stackers, access vehicles, and lithium-ion-powered forklifts to customers across North America. Big Lift is the North American subsidiary of EP Equipment, one of the fastest-growing and most innovative material handling equipment companies in the world. EP Equipment specializes in designing and manufacturing lithium-powered forklifts, warehouse equipment, and autonomous material handling solutions. Big Lift currently distributes Big Joe Forklifts, a North American material handling brand founded in 1951, which is well known for its innovative products and exemplary aftermarket support. Big Joe pioneered the Class III “walk-behind” lift truck market segment and continues to have the broadest portfolio of powered walk-behind lift trucks in North America. Following its acquisition of ePicker, Big Lift will re-brand ePicker as EP to capitalize on its parent company’s strong global brand reputation. The North American EP brand will utilize the former ePicker leadership team that joined the company through the acquisition. The Big Joe and EP brands will be distributed through their current sales channels while focusing on different product segments. The Big Joe channel will continue to focus on innovative niche products and in-between-handling applications while the EP channel will primarily focus on “purpose-built” lithium-ion forklifts. Both brands will offer market-leading autonomous solutions. “This acquisition is an important part of Big Lift’s strategy to become the market leader in lithium-powered material handling solutions and, specifically, the industry leader in lithium forklifts in North America. The addition of the ePicker team and ePicker forklift distributors will benefit both channels as it will enable Big Lift to dramatically increase our resource base, significantly strengthen our aftermarket support capabilities, and ensure we continue to launch high-quality, innovative products,” said Dan Rosskamm, President of Big Lift. “Building off the success of ePicker, EP North America will hit the ground running, bringing best-in-class lithium-powered forklifts to retailers, warehouses and DCs,” said Jason Bratton, General Manager for EP North America. “As demand for new energy forklifts is increasing, I am excited to be part of a larger global team that shares the vision of what North America needs for material handling solutions.” EP North America is based in Fort Worth, Texas and offers a range of material handling solutions from lithium-ion Class 1 forklifts to lithium battery solutions, stackers, pallet jacks and access vehicles. EP brings specialized products to the North American market to maximize efficiency in various applications and environments. As part of Big Lift, EP North America will have additional resources available to its dealer network as well as the end-user, including increased engineering capabilities, marketing support, customer service, aftermarket parts and warranty support.
Bobcat announced lineup of new products
Bobcat Company, an equipment, innovation, and worksite solutions brand, has expanded its product portfolio with the introduction of forklifts; industrial air compressors; turf renovation equipment; and portable power products including air compressors, generators, and light towers. “Through our unwavering commitment to innovation and excellence, we have significantly broadened our product portfolio to not only meet the needs of our loyal customers but also to inspire and empower new customers to conquer their toughest job site challenges,” said Scott Park, CEO and vice chairman of Doosan Bobcat Inc. “With an expanded range of solutions, we’re empowering even more customers to accomplish more.” These products are now available at select Bobcat dealerships throughout North America. Last year, Bobcat announced Doosan Industrial Vehicle, Doosan Portable Power, Doosan Industrial Air, and RYAN turf renovation products would change to the Bobcat brand as part of the organization’s global brand strategy. All product lines have officially rebranded under Bobcat in North America with transitions on these product lines also happening globally in applicable markets. Customers can now purchase these Bobcat branded products, which includes: Forklifts: Internal combustion cushion and pneumatic tire forklifts, electric counterbalance forklifts, narrow aisle forklifts, pallet trucks/stacker forklifts, and warehouse vehicles. Industrial air: Industrial air compressors ranging from 30- to 200-hp, with both fixed and variable speed offerings. Turf renovation equipment: Aerators, sod cutters, dethatchers, overseeders, and other specialty products that serve landscaping and grounds care professionals across a variety of industries including golf, sports turf, landscaping, and rental. Portable power: Air compressors ranging from 185 to 1600 CFM, mobile generators ranging from 25 to 570 kVA, and light towers with runtime up to 105 hours.
H&E Equipment Services report Fourth Quarter and Full Year 2023 results
H&E Equipment Services, Inc. has announced results for the fourth quarter and full year ended December 31, 2023, with record strategic expansion, impressive revenue growth, and steady margin appreciation contributing to another year of record financial performance. On October 1, 2021, the Company sold its crane business, (the “Crane Sale”). All results and comparisons for the periods reported are presented on a continuing operations basis with the Crane Sale reported as discontinued operations in certain statements and schedules accompanying this report. Also, on December 15, 2022, the Company sold its Komatsu earthmoving distribution business, resulting in a pre-tax gain of $15.4 million in the fourth quarter of 2022, including $12.9 million recorded as a gain on the sale of property and equipment, and $2.5 million as a gain on other, net. FOURTH QUARTER 2023 SUMMARY WITH A COMPARISON TO FOURTH QUARTER 2022 Revenues increased 9.3% to $385.8 million compared to $353.1 million. Net income totaled $53.5 million compared to $51.2 million. The effective income tax rate was 19.4% compared to 26.1%. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 6.5% to $185.2 million compared to $173.9 million. Prior year results included the pre-tax gain associated with the sale of the Komatsu earthmoving distribution business. Adjusted EBITDA margin was 48.0% compared to 49.2%. Total equipment rental revenues were $316.9 million, an increase of $41.2 million, or 14.9%, compared to $275.7 million. Rental revenues were $280.6 million, an increase of $35.6 million, or 14.5%, compared to $245.0 million. Sales of rental equipment increased 34.3% to $40.6 million compared to $30.2 million. Margins improved to 66.0% compared to 51.2%. Sales of new equipment totaled $9.8 million, a decline of 54.5% compared to $21.5 million. Gross margin improved to 48.3% compared to 45.1%. Total equipment rental gross margins were 48.2% compared to 47.9%. Rental gross margins were 54.2% compared to 53.1%. Average time utilization (based on original equipment cost) was 68.4% compared to 72.0%. The Company’s rental fleet, based on original equipment cost, ended 2023 at approximately $2.8 billion, representing an 18.3% increase. Average rental rates improved 3.8% from the year-ago quarter and 0.8% on a sequential quarterly basis. Dollar utilization was 40.3% compared to 41.9%. Average rental fleet age on December 31, 2023, was 39.7 months compared to an industry average age of 49.0 months. Paid regular quarterly cash dividend of $0.275 per share of common stock. Reviewing the Company’s fourth quarter and full year performance, Brad Barber, chief executive officer of H&E, referred to several important developments. Mr. Barber pointed out, “Strong execution of strategic initiatives and resilient non-residential activity resulted in healthy financial metrics throughout the year. Total revenues in the fourth quarter improved 9.3% compared to the year-ago quarter, while rental revenues grew 14.5% over the same period, resulting in a rental margin of approximately 54.2%. For the full year, total revenues set a Company record of just under $1.5 billion, representing an 18.1% increase compared to total revenues in the previous year. Over the same period, rental revenues grew 24.1%, exceeding $1.0 billion for the first time, and completed the year with an average margin of 52.1%. Indicative of the durable industry fundamentals, rental rates in the fourth quarter improved 3.8% compared to the same quarter in 2022, and 0.8% on a sequential quarterly basis. For the full year, rental rates were 5.6% better than 2022. Our strategic accomplishments in 2023 included a record gross fleet investment totaling $737 million, exceeding our revised target range for the year. We completed the year with a fleet original equipment cost (OEC) of approximately $2.8 billion, or 18.3% greater than our fleet OEC at the conclusion of 2022. Our average fleet age of 39.7 months remained among the youngest in the industry.” Mr. Barber went on to state, “The pace of branch expansion remained impressive throughout 2023, further strengthening the Company’s competitive position. The success of our accelerated branch expansion program led to a record 14 branch additions in 2023, including three new locations in the fourth quarter. These branch additions established greater density in the Gulf Coast, Mid-Atlantic, Southeast and Midwest regions, providing the Company with increased exposure to new projects. Also, additional growth and improved positioning was accomplished through the acquisition of attractive and well-managed businesses with operations in core metropolitan statistical areas of the U.S. One transaction, which closed in the fourth quarter, added three locations in California, increasing the number of branch additions to 17 in 2023, or a 14% increase across our branch network when compared to the branch count at the conclusion of 2022.” Addressing 2024 strategic growth initiatives, Mr. Barber said, “We plan to slow our 2024 gross fleet expenditures to a range of $450 million to $500 million. We believe our record fleet expenditures in 2023 and young fleet age advantageously position the Company to address the ongoing growth in construction markets and these factors should support steady improvement in physical utilization. Regarding our branch network, new branch growth will remain a fundamental component of our strategic plans in 2024 with 12 to 15 new locations expected in our branch expansion program. In addition, branch growth could be enhanced through attractive acquisition opportunities that offer access to vibrant construction markets in the U.S., as demonstrated by our latest acquisition which closed in early 2024, adding one location each in Phoenix and Denver.” Mr. Barber noted the outlook for the equipment rental industry remains encouraging, supporting the point by saying, “Commentary from our customers regarding pending construction opportunities in 2024 remains optimistic and supports a business climate characterized by stable to modestly higher non-residential and industrial activity. Construction starts are projected to grow on a year-over-year basis with the growth reinforced by mega projects and increased spending on infrastructure programs. Also, we remain confident that expanding rental penetration will be a meaningful catalyst for increased industry growth.” FINANCIAL DISCUSSION FOR FOURTH QUARTER 2023 Revenue Total revenues increased 9.3% to $385.8 million in the fourth quarter of 2023 from $353.1 million in the
Hyster honored with design award for A Series forklifts
Hyster Company announces the Hyster® H40-70A forklift series is a winner of the prestigious 2023 GOOD DESIGN® Award. The configurable internal combustion engine-powered forklifts are the first in the A Series, which offers robust ergonomic features, a low total cost of ownership and an innovative technology engineered to help reduce the likelihood of forklift tip-overs. The H40-70A models, which are available with 4,000-to-7,000-pound lift capacities, are designed around a singular base configuration derived from direct feedback from operators, managers, technicians, safety coordinators, and other professionals. From there, operations can tailor additional features, creating a forklift based on their specific application. “While every operation faces its unique challenges, some are common across industries – strained forklift operators, safety concerns, and rising operating costs,” says Jimmy Anderson, Product Manager, Hyster. “Hyster is dedicated to designing solutions that address these widespread problems, while also helping operations tackle challenges specific to their business.” To support operator comfort and productivity all shift long, the H40-70A models are designed for ergonomics and convenience. In particular, the operator compartment enables easy entry and exit with a lowered seat, contoured hood, increased floor space, and generous head and shoulder clearance. A foot-activated, hand-released parking brake requires less effort than a hand-applied brake to minimize operator lean and back strain, while dynamic seat adjustment provides up to 25% more forward and backward seat adjustability than the leading competitive model. Several features help boost visibility, including a low dash and wide mast design that provide excellent forward visibility. A high-strength laminated glass roof is available to provide operators with an unobstructed upward view to help place loads at height. The forklifts are also available with the Hyster Dynamic Stability System (DSS), a solution that continually monitors truck performance to help reduce the likelihood of forward and sideways tip-overs and reinforces operating best practices. When it detects the truck exceeding designated thresholds while carrying a load, DSS automatically implements measures like limiting truck speed and tilt range. None of the DSS sensors require maintenance, and the trucks’ durable components and extended service intervals are designed to help control maintenance spend and bolster reliability and uptime.
Buckle Up: Cat® Lift Trucks marks 20 consecutive years for the Houston Livestock Show and Rodeo™
Mitsubishi Logisnext Americas, a manufacturer and provider of Cat® lift trucks across North, Central, and South America, has announced the 20th recurring year as the Official Lift Truck Provider for the Houston Livestock Show and Rodeo™. For two decades, Cat Lift Trucks and its local dealer, Darr Equipment Co., have played a critical role in the production of the largest livestock exhibition and rodeo in the world. The Houston Livestock Show and Rodeo is a beloved tradition for over 2.5 million visitors and 30,000 exhibitors each year, showcasing the very best in agriculture, entertainment, and Western heritage. “Cat Lift Trucks has been a driving force behind our operations of the Houston Livestock Show, ensuring our iconic event runs smoothly,” said Dr. Chris Boleman, president and CEO of Houston Livestock Show and Rodeo. “Their consistent dedication to providing top-tier products and unparalleled support has been pivotal. As we celebrate 20 years of partnering together, we look forward to continued excellence and a shared journey filled with memorable experiences for years to come.” As the Official Lift Truck Provider, Cat Lift Trucks, along with Darr Equipment Co., provides over 140 Cat lift trucks to ensure seamless operation from setup to tear down throughout the 300-acre complex. Darr Equipment Co.’s technicians will also be on-hand throughout the show to provide daily on-site service and maintenance for the forklifts throughout the Rodeo season. “It’s an honor to continue as the Official Lift Truck Provider – now in our 20th year”, said Jerry Sytsma, Executive Vice President, Sales & Aftermarket Services at Mitsubishi Logisnext Americas. “The work performed behind the scenes, by our forklifts and Darr’s technicians, allows us to help bring together the city of Houston in a meaningful way, while also indirectly helping to provide educational scholarships for deserving kids. It’s a real honor to help give back to our community in this way.” Beyond the operational support, Cat Lift Trucks embodies its commitment to nurturing future leaders and innovators with its scholarship program. Since its launch in 2005, the Cat Lift Trucks scholarship program has awarded $140,000 in educational assistance to 28 outstanding Houston-area high school seniors interested in pursuing a four-year degree related to the material handling industry. This year’s winner will be honored at the 2024 Houston Livestock Show and Rodeo™ and awarded a $5,000 scholarship to go towards their higher education.
Alexander Baumann named new Managing Director of HUBTEX North America
HUBTEX North America’s new Managing Director Alexander Baumann is assuming responsibility for the industrial truck manufacturer’s operations in its most important non-European market with immediate effect. The 51-year-old will focus on sales and marketing in his day-to-day work. The wholly owned subsidiary of the Fulda-based HUBTEX GmbH & Co. KG emerged from the Group’s acquisition of all shares in the general importer Design Storage & Handling (DSH). Alexander Baumann, who has over 20 years experience in the market for in-company material flows, will take charge of all the company’s sales and marketing activities in North America in his new position. “HUBTEX is among the world’s leading manufacturers of side loaders, order pickers, custom-built industrial trucks, and specialist vehicles for the transport of long, heavy, and bulky goods, and we want to consolidate this position further in North America in the steel processing industry as well as the building materials trade and the lumber industry,” Baumann says. He brings a wealth of expertise that HUBTEX needs as it shifts its focus to North America. He has already masterminded the successful delivery of pioneering projects in an intercultural environment in his previous roles at two companies, Genkinger (a manufacturer of custom-made industrial trucks) and bAKA (a specialist in bespoke material flow solutions).