Hamilton Beach 2011 Annual Report Download - page 9

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Finally, as a result of strategic
programs put in place to strengthen
NMHG’s manufacturing capabilities and
counteract the downturn beginning in
2008, two of NMHG’s plants received
awards in 2011. NMHG’s Berea, Kentucky,
plant received Plant Engineering’s “Top
Plant” award for coming out of the
recession stronger than it went in by betting
on its employees to help strengthen the
organization. NMHG’s Craigavon, Northern
Ireland, plant received the Northern Ireland
Quality Award for its passionate pursuit of
quality excellence to maximize the potential
of its business, improve productivity and
deliver more with less.
Nonetheless, 2011 was not without
its challenges. Material costs continued to
increase as a result of rising commodity
costs, which triggered the implementation
of price increases. Currency rates also
moved unfavorably in 2011 as a result of
the weak euro and a strengthening of the
Japanese yen. Finally, in the fourth quarter
of the year, NMHG began to see a softening
in global market demand for forklift trucks.
Outlook for 2012
NMHG expects global lift truck
markets to moderate in 2012, with volumes
comparable to 2011 in the Americas and
Asia-Pacific and modest declines in Europe,
particularly Western Europe, and China.
Nonetheless, NMHG anticipates a slight
increase in unit booking and shipment
levels in 2012 compared with 2011,
primarily as a result of new product
introductions. Backlog and parts volumes
are also expected to remain relatively
steady in 2012.
While European financial concerns
continue, the sustainability of the market
recovery remains in question. As a result,
NMHG plans to maintain conservative
production levels and will do so until it
is confident the recovery is sustainable.
Overall, NMHG’s product development,
supply chain, manufacturing processes
and quality and reliability programs are
performing at expected levels and are
L i f t T r u c k s
Six
The new low emission, Tier 4 compliant, Hyster®RS45-31CH ReachStacker, for port and terminal applications, has a lifting capacity of up to 99,000 pounds and the capability
to stack containers five high in the front row.