Hyster-Yale, Inc 8-K, filed Dec 22, 2022
Hyster-Yale, Inc. (HY)
8-K
2022-12-22
For: 2022-12-19
View Original
Added on
April 11, 2026
About this 8-K
Hyster-Yale, Inc filed this 8-K on December 22, 2022, reporting on events of December 19, 2022.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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Item 1.01 Entry Into a Material Definitive Agreement.
On December 19, 2022, Hyster-Yale Group, Inc. ("HYG"), a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (the "Company"), entered into the Amendment to Third Amended and Restated Joint Venture and Shareholders Agreement (the "Agreement") with Wells Fargo Financial Leasing, Inc. ("Wells Fargo"). This agreement amends the Third Amended and Restated Joint Venture and Shareholders Agreement, dated as of September 17, 2018, as such has been amended from time to time, and certain ancillary agreements, to set forth the terms and conditions on which HYG and Wells Fargo shall continue to operate HYG Financial Services, Inc. ("HYGFS"), an entity owned twenty percent (20%) by HYG and eighty percent (80%) by Wells Fargo.
Under the terms of the Agreement, the base term was extended from December 31, 2023 to December 31, 2028.
HYGFS was formed primarily for the purpose of providing financial services to independent Hyster® and Yale® lift truck dealers, those dealers’ customers and National Account customers in the United States. Under the Agreement, HYGFS provides debt financing to HYG's independent dealer network and lease and loan financing to dealers and customers.
Wells Fargo Bank, N.A. has in the past provided, is currently providing and in the future may continue to provide investment banking, commercial banking and other financial services to the Company and its subsidiaries in the ordinary course of business for which it has received and will receive customary compensation. In the ordinary course of business, such bank and its affiliates may participate in loans and actively trade the equity securities of the Company for its own account or for the accounts of customers and, accordingly, such bank and its respective affiliates may at any time hold long or short positions in such securities.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: | December 22, 2022 | HYSTER-YALE MATERIALS HANDLING, INC. | |||||||||
| By: | /s/ Suzanne Schulze Taylor | ||||||||||
| Name: Suzanne Schulze Taylor | |||||||||||
Title: Senior Vice President, General Counsel and Secretary | |||||||||||