Hamilton Beach 2007 Annual Report Download - page 21

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Complete ranges of products are developed simultaneously
rather than on a traditional series-by-series approach. Platforms,
components and modules have been designed to be used across
a wide array of lift trucks. This approach decreases the overall
number of components required and permits easier and more
frequent upgrades. In addition, design, prototyping and testing
are guided by a rigorous, staged approval process that delivers
higher levels of reliability while increasing speed to market.
Increased component commonality, combined with
engineering techniques designed to deliver a more efficient
assembly process, are expected to continue to increase
labor efficiency and improve product
quality. Lift trucks utilizing
interchangeable components and
systems assembled on computer-aided
assembly lines are increasing NMHG’s
ability to configure and manufacture
lift trucks to individual customer
application requirements.
For newly designed product lines
that have already been introduced,
these product development efforts are
improving the quality of NMHG’s
products, as well as more cost-effectively meeting end-user
requirements. In the long term, improved efficiencies are
expected to increase individual lift truck profitability as well
as overall company profitability. This program is expected
to provide further significant benefits in 2008 and 2009.
New product introductions. Over the next two to three
years, NMHG expects to deliver a continuous stream of new
product introductions and product improvements covering
the ICE, electric, warehouse and big truck product lines.
In 2007, NMHG introduced the 6 to 7 ton series of the
1 to 8 ton ICE lift truck line, which includes the Hyster® Fortis®
and Fortens™ and the Yale® Veracitor® series of lift trucks. In
early 2009, the final series in the ICE line, a new 8 to 9 ton lift
truck series, is scheduled for introduction.
A completely new line of electric counterbalanced lift
trucks, which will benefit from the same design and manu-
facturing approach as the 1 to 8 ton ICE line, is scheduled to
roll out in 2008 and 2009. Specifically, new 1 to 3 ton Electric
Rider lift trucks are scheduled for introduction beginning in
the second half of 2008, and lift trucks with over 3 ton capacity
are scheduled for introduction in 2009.
NMHG’s warehouse product line offering was significantly
strengthened in 2007 with the introduction of a new Retail
Reach truck in the Americas. In addition, a number of feature
improvements were introduced in 2007, which allow the
warehouse lift trucks to deliver more performance in targeted
applications at key customers. Along with other product and
feature enhancements, an A/C-powered update of the 3-Wheel
Stand-Up warehouse lift truck is planned for 2008.
NMHG’s Big Truck line improved in 2007 with the
introduction of an updated 16 to 22
ton forklift truck, a new 44 to 48 ton
forklift truck and an extended
capacity Reachstacker as well as an
upgraded range of 8 to 16 ton Tier III
low-emission models. Additional
capacity models and upgrades to
the Big Truck line, including new
platforms for the 14 to 18 ton and
20 to 32 ton series, are scheduled for
introduction in 2008 and beyond.
The introductions of these newly
designed products are expected to enhance revenue and margins
as well as absorb unused manufacturing capacity, primarily in
2008, as most of these new product introductions are completed.
Strategic pricing optimization. With the new modular
product design concept, dealers can more accurately configure
and price lift trucks in line with customer applications. Linking
prices more closely to product features and performance
delivers value and lower cost of ownership to customers and
enhanced margins to NMHG. In conjunction with the program,
the company has made, and will continue to make, selected
adjustments to the mix of performance and feature offerings
on its lift trucks. Benefits of this program were realized in 2007
and are expected to increase during 2008 and beyond.
Key Programs for Sales and Service Excellence
NMHG is focused on maintaining and strengthening its
already highly professional national account direct sales group
and independent dealer distribution networks to provide
superior value-added support to its customers. NMHG’s
A concentration at NMHG
on design and durability
assures that our lift trucks
reliably perform the
most demanding tasks day
in and day out.
Left: A Hyster® Fortis® S80FT internal combustion cushion tire lift truck undergoes testing of its durability to withstand a heavy load falling on the overhead guard at the
drop test stand at NMHG’s Counterbalanced Development Center in Portland, Oregon.