NACCO Industries, Inc.is an American publicly tradedholding company,headquartered inCleveland,Ohio.Through a portfolio of mining and natural resources businesses, the company operates under three business segments:Coal Mining,North American Mining, and Minerals Management.[1]The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining segment provides value-added contract mining and other services for producers of aggregates,lithium,and other minerals. The Minerals Management segment promotes the development of the Company’s oil, gas, and coal reserves, generating income primarily from royalty-based lease payments from third parties. In addition, the Company has a business providing stream and wetland mitigation solutions.
Company type | Public Company |
---|---|
NYSE:NC Russell 2000 Indexcomponent | |
Founded | 1913 |
Headquarters | , |
Key people | J.C. Butler, Jr. (Chief Executive Officer) |
Products | Service Mining |
Revenue | US$140.0 million(FY 2019) |
US$56.1 million(FY 2019) | |
US$39.6 million(FY 2019) | |
Total assets | US$444.7 million(FY 2019) |
Total equity | US$289.3 million(FY 2019) |
Number of employees | 2,400 |
Divisions | North American Coal Corporation |
Website | www |
History
editNACCO Industries originated in 1913 with the incorporation of the Cleveland and Western Coal Company. The name was changed to TheNorthAmericanCoalCorporation (NACCO) in 1925, and the company operated exclusively in the coal industry until the acquisition ofYale Materials Handling Corporationin 1985. This was followed in 1986 by creation of the holding company under the name NACCO Industries, Inc. NACCO Industries expanded into housewares with the purchase ofProctor Silexin 1988[2]andHamilton Beachin 1990,[3]and expanded its presence in the materials handling industry by adding theHyster Companyin 1989.[4]Yale Materials Handling Corporation and the Hyster Company were combined to formHyster-Yale Materials Handling,which was spun off in 2012.[5]In 2017, NACCO spun off Hamilton Beach Brands and Kitchen Collections.
References
edit- ^"NACCO".nacco.Retrieved2021-06-22.
- ^"NACCO company history".NACCO Industries. Archived fromthe originalon 13 March 2015.Retrieved26 September2014.
- ^"NACCO company history".NACCO Industries. Archived fromthe originalon 8 December 2014.Retrieved26 September2014.
- ^"NACCO company history".Retrieved26 September2014.
- ^Schoenberger, Robert (2012-09-28)."Nacco Industries to complete Hyster-Yale spinoff to shareholders today".cleveland.Retrieved2021-06-22.