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Sumitomo Nacco Materials Handling Co., Ltd. (SNMH) is a joint venture created by Sumitomo Heavy Industries, Ltd. (SHI) and the American group Nacco Industries Inc., - may well be considered an example of successful and long-term international business cooperation.
The union of Nacco and Sumitomo has flourished for more than three decades. Their cooperation began in 1968, when the American firm Yale and the Japanese SHI entered into mutually beneficial partnerships.
For Sumitomo, this was an attempt to eliminate the production idle time associated with the cyclical nature of its main business through the organization of mass production of cranes and heavy machinery.
Forklifts for this could not be better, because, as expected, the demand for them within the country in the coming years should have increased fivefold.
In turn, Yale Materials Handling, a division of Cleveland's Eaton Corp., was looking for opportunities to enter the Japanese market.
In 1969, SHI and Yale signed a license agreement under which Sumitomo uses an American company, its equipment and technology to produce Yale brand loaders with an internal combustion engine for the purpose of selling them in Japan.
The sale of Shinko Forklift no to the production of electric forklifts of up to 3 tons took place in 2001. Currently, SNMH produces electric forklifts of up to 3 tons and forklifts up to 10 tons under both brands Sumitomo and Shinko.
Shinko Electric still produces loaders of the Shinko brand with a cargo capacity of 3 to 4 tons.