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HYSTER-YALE NAMES NEW CHIEF EXECUTIVE OFFICER

 HYSTER-YALE NAMES NEW CHIEF EXECUTIVE OFFICER
 PORTLAND, Ore., Sept. 2 /PRNewswire/ -- Hyster-Yale Materials


Handling Inc. announced that J. Phillip Frazier has stepped down as chairman and chief executive officer to pursue other interests. Reginald R. Eklund, currently president and chief operating officer, will become president and chief executive officer effective immediately.
 Eklund, 51, joined the Yale organization in 1966, and was named president and chief operating officer of Yale Materials Handling Corp. in 1983. He was named chief executive officer of Yale in 1984. Eklund was named president, chief operating officer and a director of Hyster- Yale following Yale's merger with Hyster Co. in 1989. Eklund holds a B.S. degree from the University of Nebraska.
 Frazier, 53, joined Hyster Co. in 1973. He held a variety of finance and operations positions until 1989, when he became chairman of the newly formed Hyster-Yale Materials Handling Inc.
 Commenting on the announcement, Frazier said, "With the completion of the merger and the successful integration of Hyster-Yale operations, I believe the company is well positioned as a leader in the lift-truck business. I know that Reg will provide excellent leadership to the Hyster-Yale organization."
 In accepting the position, Eklund said, "Phil made a major contribution to Hyster-Yale during the transition following the merger, and his counsel was important in the development of our long-term strategy. While Phil will be missed, he leaves behind an outstanding management team."
 Eklund further stated, "Recent organizational changes consolidating Hyster and Yale administrative and manufacturing organizations in the Americas and in Europe place Hyster-Yale in an excellent position to implement the company's global, multi-brand business strategies."
 Hyster-Yale Materials Handling Inc., headquartered in Portland, is a world leader in the production of industrial fork-lift trucks sold under Hyster, Yale and other brand names.
 -0- 9/2/92
 /CONTACT: Bergen Bull of Hyster-Yale Materials Handling, 503-721-6000/ CO: Hyster-Yale Material Handling Inc. ST: Oregon IN: SU: PER


LM-SF -- SE009 -- 6147 09/02/92 17:53 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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