Forklift 2017 Review

We would like to share our industry news with you.

It looks like global forklift sales for 2017 will remain in the six-digit range. While final figures for the year are not yet available, there were persistent reports of growth of more than 15% for much of the year. That means sales figures of around 1,325,835 may not be out of the question, after 1,152,900 units were sold in 2016.

Last year was punctuated by positive financial performance among the major players, with Jungheinrich reporting continued growth over the first nine months, primarily driven by high demand in its core market, Europe.

The KION Group also noted strong growth in the first three quarters, with orders rising 39.2% to EUR1.847 billion (USD2.15 billion) in the period July to September 2017.

Lifting solutions provider PALFINGER also continued to post strong growth in the first three quarters of 2017, thanks mostly to solid performance in Europe, Russia and China. Group revenues rose by 9.7%, setting a new record for the reporting period.

French equipment maker Haulotte Group ended the third quarter with consolidated sales of EUR106.1 million (USD125 million), 2% up from the same period last year and a rise of 8% over the first three quarters of the year.

While Terex experienced income declines over the year, the result had more to do with divestment, restructuring and cost-saving initiatives than any softening of the market.

Fears of a slump in the UK market due to Brexit were quickly overcome, with the British Industrial Truck Association reporting three successive quarters of growth, "painting a picture of a sector that can withstand short-term economic fluctuations". The Market Index showed that sales of trucks rose by 8.2% year-on-year, reaching 33,407 by the end of the third quarter of 2017, continuing the improvement on 2016 levels.

And as the market grew, the jostling for marketshare continued, but there was little change at the top, with Toyota Industries Corporation retaining its ranking as the world`s largest materials handling supplier, with revenues of USD8.563 billion.

KION remained in second place, with sales of USD5.879 billion, while the 2016 acquisition of UniCarriers has pushed Mitsubishi Nichiyu Forklift into third place, bumping Jungheinrich into fourth spot, despite its strong performance in 2016.

Crown Equipment remained in fifth place, based on 2016 revenues which rose more than 10% over the year, while Hyster-Yale Materials Handling held its sixth place, propped up by sales from its Bolzoni acquisition.

Anhui Forklift is the highest-ranked Chinese manufacturer, coming in at number seven after sales of 86,625 units, an increase of 16%.

Doosan was a big mover, rising from 11th position to eighth place, while Hangcha Group, with sales of 82,350 units, rose from 12th to ninth.

Clark Material Handling retained its 10th spot in its 100th year.

Multiple mergers
While 2016 was the year of mega-acquisitions and mergers, 2017 saw many more businesses change ownership – albeit on a smaller scale.

Among the notable purchases was Toyota Industries Corporation`s acquisition of Bastian Solutions, LLC, a leading systems integrator with regional US operations and presence in strategically significant international markets. The purchase heralded TICO`s move into broader supply chain solutions, with the creation of Toyota Advanced Logistics Solutions, a new business division to manage North American activities in the area of logistics solutions.

Toyota`s move into logistics took a further step with the acquisition of Vanderlande, a global leader in value-added logistics process automation at airports and in the parcel market. Vanderlande has 50 sites around the world and a staff of approximately 4,500 experienced in providing materials handling solutions to major customers in every industry.
While Toyota was entering the integrated solution market, KION accelerated its thrust with the integration of its purchases - Dematic and Egemin Automation. The restructure was touted as the creation of the world`s largest automated guided vehicle (AGV) supplier while enhancing Dematic`s system integration capability in Europe.

Another trend which intensified in 2017 was the purchase of Chinese companies by global premium product manufacturers. Just last month, Hyster-Yale 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.

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.

Jungheinrich, which has been strengthening its position by expanding into the retail market, this month assumes operation of Grupo Agencia Alemana, its long-standing South American distribution partner. The move makes Jungheinrich the first provider of complete intralogistics solutions to be represented in Colombia, Peru and Ecuador by its own direct sales and service network. Jungheinrich previously set up direct sales branches in Brazil (2001) and Chile (2016), and the latest moves consolidate its position in South America.

Last year was an acquisitive one for the Manitou group, which took a majority stake in Australian dealer LiftRite, based in Perth, and also finalised the acquisition of Terex Equipment Private Limited (TEPL) in India.

The ramifications of the 2016 Terex/Konecranes deal continued last year, with Konecranes completing the divestment of its STAHL CraneSystems business to Columbus McKinnon Corporation. That sale was part of the European Commission`s approval of Konecranes` acquisition of Terex Corporation`s MHPS business, which was conditional on the divestment.

Rival Hiab completed its acquisition of the loader crane business of Argos Guindastes Indústria e Comércio Ltda. Argos is one of Brazil's leading loader crane manufacturers and the purchase was part of Hiab's ambition for the Brazilian market.

Dealer developments
There was plenty of dealer activity in the United States, including Alta Equipment Company`s purchase of YES Equipment & Services in Illinois, resulting in Alta becoming an authorised Yale dealer in the state.

Meanwhile, Fairchild Equipment acquired the assets and Hyster forklift dealership rights of Arnold Machinery locations in Minnesota. This was the company`s fourth significant purchase since 2015. In April 2016, Fairchild acquired the assets of Lift Truck Specialists in Menomonee Falls, Wisconsin. A month later, it acquired the assets of American Warehouse Systems and DC Handling of Blaine, Minnesota.

Miner Material Handling continued its expansion, buying the Houston operations of
Sunbelt Industrial Trucks of Dallas, Texas. Miner had acquired Dallas-based CE-DFW Warehouse Solutions in April 2016. CE-DFW is an authorised Doosan, Linde, Donkey and Genie dealer in North Texas. The company was interested in expanding to Houston, so the acquisition of Sunbelt Industrial Trucks, the Doosan dealer in that market, was beneficial to both parties.

RMH Systems acquired Skarnes Inc., a materials handling company in the Minneapolis suburb of Plymouth. Skarnes has been a dominant materials handling house in the Twin Cities and Minnesota markets since 1923, and the acquisition strengthens the market presence of RMH Systems as a materials handling equipment distributor in the upper Midwest.

Funds managed by Harvest Partners, LP, a New York-based private equity firm, acquired the equity stake in Material Handling Services held by CI Capital Partners, another New York-based private equity firm. CI Capital acquired its equity stake in Material Handling Services (trading as Total Fleet Solutions) in 2012. Terms of the transaction were not disclosed.

Used truck dealer Ranger Lift Trucks, headquartered in Baytown, Texas, bought out Universal Forklift Supply. Ranger president Todd Ford said: "Universal Forklift Supply will add the missing pieces for Ranger to become a full-service used equipment dealer."

There was also acquisition activity in Europe, where Palfinger Group acquired all the shares of its Danish dealer, Palfinger Danmark AS. The purchase agreement included the further employment of all staff members and the continuation of the whole sales and service network.

TVH, which has been very active in the acquisition stakes, continued to grow its operations with the acquisition of the German activities of the Lavendon Group from Loxam Group through the transfer of the entire share capital of Lavendon Holding (Deutschland) GmbH and Gardemann Arbeitsbühnen GmbH. TVH saw the purchase as a unique opportunity to combine the leading brands Mateco and Gardemann, and further consolidate its position in the German market.

Aerial work platform and telehandler rental specialist Riwal has acquired German rental company AFI GmbH. Like Riwal, AFI specialises in the hire of aerial work platforms, telehandlers and forklifts. AFI was founded in 2003 by Günther Aust and operates a fleet of 1,300 machines from nine depots across Germany. The company has 110 employees.

Meanwhile, OHM group, one of Ireland`s largest vehicle dealers, sold off its forklift division as it looks to "streamline" its business. British company Briggs Equipment took over Irish Lift Trucks, a long-established dealer of materials handling equipment. OHM Group, through its subsidiary company Irish Lift Trucks, had been the exclusive distributor for Hyster materials handling equipment in Ireland since 1982 and the acquisition extends Briggs` Hyster network as the company is the Hyster-Yale Group`s exclusive UK distributor for the Hyster and Yale ranges.
Source: https://www.forkliftaction.com/news/newsdisplay.aspx?nwid=19932

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