Hyster-Yale Group, Inc., Cleveland, Ohio, acquired Speedshield Technology Pty Ltd.’s U.S. and UK telematics installation and distribution businesses. This acquisition provides Hyster-Yale with the exclusive distribution rights of these businesses’ products in all areas outside of Australia. Following this acquisition, the acquired businesses will be re-branded as HYG Telematic Solutions.
Speedshield Technology, located in Melbourne, Australia, is a leading provider of advanced and comprehensive telematics technology for material handling equipment, as well as other fleet vehicle applications. With this acquisition, Speedshield Technology is the sole authorized provider of telematics products to Hyster-Yale customers, under the Yale Vision and Hyster Tracker telematics product offering.
Following the acquisition, Hyster-Yale intends to further develop its capabilities and enhance efforts to service the market for telematic solutions and fleet data analytics for material handling fleets. The telematics application is currently offered in all new Hyster and Yale lift trucks and is able to be retrofitted into existing Hyster and Yale lift trucks, as well as lift trucks and allied equipment from other manufacturers.
Speedshield also operates a facility in Tyler, Texas.