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LiftOne announces Hyster® Lift Truck Asset Acquisition and Facility Assumption from Barloworld Handling

Wednesday, February 1, 2012

LiftOne, a division of Carolina Tractor with headquarters in Charlotte, N.C., announced today it has executed a letter of interest to acquire a portion of Barloworld Handling’s assets relating to Hyster® lift trucks. LiftOne will also be appointed by Hyster Company for the sales and service of Hyster® lift trucks in a portion of Barloworld’s territory. LiftOne and Barloworld are now commencing a due diligence process as they move to finalize this transaction with a target closing date at the end of the first quarter.

Once complete, this transaction will position LiftOne as one of the largest Hyster dealers in the United States, with responsibility for portions of Alabama, Georgia, Tennessee, Virginia, North Carolina, and South Carolina. LiftOne will operate Barloworld branch locations in these States, including the Barloworld Headquarters in Charlotte, N.C., serving customer needs for Hyster® product sales, rental equipment, parts, and service.

“With the change to Hyster® products, LiftOne’s focus on being our customers’ ‘trusted partner’ for their parts and service solutions remains unchanged,” said Edward Weisiger, Jr., CEO of Carolina Tractor. “Our award winning service staff of over 350 highly-trained technicians will be able to service all brands of material handling equipment for our customers. LiftOne will continue to provide our customers with equipment solutions to help them increase efficiency and support their operations. We are committed to exceeding customer expectations for quality, dependability and responsiveness. Our primary focus through this change will be on minimizing disruption for all of our customers.”

“We are confident Hyster® products, combined with LiftOne sales and service support, will deliver excellent customer satisfaction,” said Jonathan Dawley, President of Hyster Distribution. “We look forward to maintaining our long relationship with current Hyster customers, as well as developing a solid relationship with LiftOne’s current customers.”

About LiftOne
Headquartered in Charlotte, N.C., LiftOne, a division of Carolina Tractor, is a full-service material handling dealership with branch locations in North Carolina, South Carolina and Virginia. Carolina Tractor has been in the material handling business for over 50 years and is the third longest serving Caterpillar earth moving equipment dealer and it celebrated its 85th year in business in 2011. In addition to offering a full line of material handling equipment, we also are a Caterpillar dealer in construction, forestry, paving products, and power generation systems, truck engines and LinkBelt cranes. Since 1926, the company has been committed to the needs of its customers by providing superior parts, service, and sales. LiftOne sells, rents and services a wide range of equipment solutions to fill our customers’ specific needs. LiftOne’s service staff of highly trained technicians can service most brands of material handling equipment for our customers. We have been awarded the prestigious Five Star Service Excellence Award and LiftOne’s sales staff has earned multiple awards from their manufacture partners over the years.

About Hyster Company
Based in Greenville, N.C., Hyster Company (www.hyster.com) is a leading worldwide lift truck designer and manufacturer. Hyster Company offers 130 models configured for gasoline, LPG, diesel and electric power, with the widest capacity range in the industry — from 2,000 to 115,000 lbs. Supported by one of the industry’s largest and most experienced dealer network, Hyster Company builds tough, durable lift trucks that deliver high productivity, low total cost of ownership, easy serviceability and advanced ergonomic features; accompanied by outstanding parts, service and training support.

Hyster Company is an operating division of NACCO Materials Handling Group, Inc. (NMHG), which employs approximately 5,000 people worldwide. NMHG is headquartered in Cleveland, Ohio, and is a wholly owned subsidiary of NACCO Industries, Inc. (NYSE:NC).

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