Eklund to Retire from NACCO Materials Handling Group, Brogan to Become President and CEO

NACCO Materials Handling Group (Portland, Ore.) announced that Reginald R. Eklund, president and CEO, will retire on June 30, 2006.

Eklund, 65, began his career in the materials handling business in 1966 as a market analyst in Eaton Corp.’s materials handling group, rising to president and chief executive officer of Eaton’s Yale Materials Handling Corp., which was subsequently acquired by NACCO Industries, as was the Hyster Company in 1989. In 1992, Eklund was appointed president and chief executive officer of the combined Hyster-Yale Materials Handling, Inc., which was subsequently re-named NACCO Materials Handling Group, Inc. (NMHG).

Under Eklund’s leadership, NMHG has grown to be one of the world’s leading lift truck producers with $2.4 billion in sales, three operating divisions--Americas, Europe and Africa, and Asia-Pacific--fourteen production plants in eight countries, four product development centers and 7,500 employees.

Upon Eklund’s retirement, Michael Brogan, 56, currently executive vice president operations, will become president and chief executive officer. Brogan joined the Company in 1983. He has held positions in international operations, product development, engineering, manufacturing, product strategy and procurement, and brings extensive experience and knowledge of the company and the industry to his new position.

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