Since the invention of forklifts in around 1915, the history of the largest manufacturers in the forklift industry has always been in a state of flux, with countless mergers, acquisitions, collaborations, and buyouts constantly reshaping the landscape. With a timeline of the major manufacturers’ transformations, Total Warehouse provides insight into the events that have shaped the forklift industry.
The 1800s
1868, The Yale Lock Manufacturing Co. is formed in the USA and later turned into Yale and Towne Manufacturing Co.
1890, Benjamin Holt and Daniel Best found Caterpillar in the USA.
1896, The Doosan Group is established in South Korea.
1898, Baker Motor Vehicle Co. is founded in the USA, initially focusing on electric cars but later expanding to electric load trucks.
1900 – 1920
1901, The Allis-Chalmers Company is founded in the USA and later acquired the Bullock Electric Company.
1907, The Linde Air Products Company is established in Germany.
1915, Lewis-Shepard is established in Watertown, Massachusetts.
1917, Komatsu Iron Works is established in Japan, later becoming Komatsu Ltd. in 1921.
1919, Clark Tructractor Company is established as a division of the Clark Equipment Company.
1919, Towmotor Corporation is founded.
1920 – 1940
1920s, Hyster’s parent companies, Electric Steel Foundry and Willamette Iron & Steel Works, are created.
1920, Shibaura Works of Ohte-Shokai K.K. is established as a subsidiary of Mitsubishi Shipbuilding Co., Ltd. in Japan.
1922, Raymond Corporation is formed in America.
1926, Toyoda Automatic Loom Works, Ltd. (now Toyota Industries Corporation) begins building automatic looms.
1929, Linde takes over Güldner-Motoren-Gesellschaft.
1930s, Yale takes over BKS forklifts in Germany.
1934, Electric Steel Foundry and Willamette Iron & Steel Works combine into Willamette Hyster Company, producing an early straddle-carrier forklift model.
1940 – 1960
1942, CESAB is founded in Italy.
1943, Cascade Manufacturing Co. is founded in America.
1944, Willamette Hyster Company is renamed Hyster Company.
1945, Crown Equipment Corporation is founded in the USA.
1946, BT Forklifts is founded in Sweden.
1947, The Hyundai Group is founded in South Korea.
1949, Toyo Carriers Manufacturing Co., Ltd. is founded in Japan.
1950, The Prime-Mover Company is founded in the USA by the Home-O-Nize Company of Iowa.
1952, Komatsu acquires Ikegai Automobile Manufacturing Co. and Chuetsu Electro Chemical Co.
1952, Mitsubishi is renamed Mitsubishi Nippon Heavy-Industries, Ltd.
1953, H. Jungheinrich & Co. Maschinenfabrik is established in Germany.
1953, Allis-Chalmers acquires the Buda Engine Co., adding diesel engines to its product line.
1956, Toyota Motor Corporation introduces its first forklift model, the LA 1-ton truck.
1956, Towmotor acquires Gerlinger Carrier Company.
1957, The first Nissan forklift is produced in Japan.
1958, Anhui Heli is established in China.
1960 – 1980
1960s, Beginning of Korea Machinery Co., Ltd.’s foray into importing forklifts as part of a national machinery expansion project.
1962, Hyundai International Inc. was founded.
1963, Yale merged with Eaton Manufacturing and Towmotor acquired Ohio Gear Company.
1965, Towmotor became a wholly-owned subsidiary of Caterpillar Tractor Company.
1968, Hyster made a strategic move by acquiring Lewis-Shepard in Massachusetts, USA.
1976, TCM America (MBK), Inc. was established, and Korea Machinery merged into Daewoo Heavy Industries Ltd.
1977, Linde acquired Baker Material Handling Corporation, leading to Baker forklift parts being known as Linde forklift parts. Meanwhile, Hyundai International Inc. was rebranded as the Halla Group in South Korea in 1978.
1980 – 2000
1980s, Allis-Chalmers began selling off some of its subsidiaries in response to rapid economic changes. Hoist Forklift Exchange was founded in the suburbs of Chicago, IL.
1983: Hyster closed its manufacturing plant in Portland, OR.
1984: Hyster Company was acquired by ESCO Corporation, and Linde acquired Fenwick, the largest French lift truck manufacturer.
1985: Yale was acquired by NACCO Industries, Inc., and Yale Materials Handling Corporation was established. Komatsu also established Komatsu America Manufacturing Corp. and Komatsu America Industries LLC in the U.S.
1986: Cascade formed a joint venture with Xiamen Forklift Company of China (Xiamen-Cascade Corp., Ltd.).
1988: Toyota Industrial Equipment Manufacturing, Inc. (TIEM) was established in Indiana as a joint venture with Toyota Motor Corporation. TCM Manufacturing USA, Inc. was also founded, and Kalmar took over Allis Chalmers forklift activities, effectively ending the Allis Chalmers brand name in the forklift industry. Additionally, Prime-Mover was acquired by BT Industries AB of Sweden.
1989: Hyster Company was again acquired by NACCO Industries, Inc., and Linde acquired Lansing Bagnall, a British forklift manufacturer.
1990s: Yale Europe Materials Handling being established. Caterpillar and Mitsubishi forming Mitsubishi Caterpillar. Nissan Forklift Corporation North America being established in 1993.
1994: NACCO Materials Handling Group, Inc. (NMHG) was established, and Hoist: Forklift Exchange acquired Silent Hoist and Crane, rebranding it as Hoist Liftruck Manufacturing, Inc. (USA). Jungheinrich also took over the UK-based Boss group.
2000 – present day
2000, Toyota acquired BT Industries AB of Sweden, and Komatsu established a global collaboration with the Linde Group in the manufacture and sales of lift trucks, forming Komatsu Forklift Co., Ltd. as a joint venture between the two. Komatsu also acquired Hensley Industries, Inc., while Toyota Industries Group acquired CESAB. Hoist acquired Elwell-Parker in the same year.
2001, Hoist expanded its portfolio by acquiring Schreck and Autolift.
2003, Clark Material Handling Company was acquired by Young An Hat Company of Korea.
2004, KCI Konecranes acquired SMV.
2005, Doosan acquired Daewoo Heavy Industries, and Toyota Material Handling Group (TMHG) was established.
2006, Linde Material Handling became a part of the KION Group, which was later acquired by Kohlberg Kravis Roberts & Co. and Goldman Sachs Group Inc. Prime Mover was discontinued by BT.
2007, Nissan Forklift acquired Atlet AB, and Doosan acquired Bobcat USA, forming a new company for Bobcat. Kalmar purchased CVS Ferrari.
2008, Manitou acquired Gehl, and Terex bought Fantuzzi.
2009, EP acquired BIGJOE and set up BIGLIFT, LLC. TCM Corporation became a subsidiary of Hitachi Construction Machinery Co., Ltd.
2010, Jungheinrich entered into an agreement with Mitsubishi Caterpillar Forklift America to supply narrow aisle and walkie equipment to the MCF USA network.
2011, UniCarriers Holdings Corporation in Japan was established.
2012, Hyster-Yale Materials Handling, Inc. emerged as an offshoot of NMHG (NACCO Industries, Inc.). Nissan Forklift Co., Ltd. and TCM Corporation joined the UniCarriers Group. Weichai Power became an investor in the KION Group.
2012: Cascade was acquired by Toyota Industries.
2014: UniCarriers acquired Crepa B.V., a Dutch forklift sales company, and New England Industrial Truck, Inc.
2015: Jungheinrich purchased MIAS Group, while Mitsubishi Heavy Industries, Ltd. acquired UniCarriers. Toyota and Hoist entered a private label agreement with Toyota Material Handling (USA).
The history of forklift manufacturers is a story of evolution, growth, and adaptation to changing economic landscapes. From the early years of expansion and mergers to the modern era of global collaborations and acquisitions, these companies have shaped the industry we know today. The continuous innovation in forklift technology promises a bright future for this essential material handling equipment.
At Total Warehouse, we’ve helped countless businesses across the United States achieve lower maintenance, reduced costs, increased worker satisfaction, and increased economic sustainability by making the switch. Our team of highly knowledgeable experts can help you make the right decision for your business. Give us a call at 833-868-2500 or contact us online.
