789933--3/1/2006--NACCO_INDUSTRIES_INC

related topics
{operation, international, foreign}
{product, market, service}
{cost, operation, labor}
{customer, product, revenue}
{debt, indebtedness, cash}
{financial, litigation, operation}
{capital, credit, financial}
{cost, regulation, environmental}
{competitive, industry, competition}
If the capital goods market worsens, the cost saving efforts implemented by NMHG may not be sufficient to achieve the benefits NMHG expects. Introduction of new products will require funding at current or higher levels, which could materially adversely affect the Company s results of operations. If NMHG s Global Cost Reduction Program, including the introduction of new products, does not prove effective, the Company s results of operations could be materially adversely affected. If cost saving efforts implemented for NMHG s owned dealers do not continue to be effective, the Company s results of operations could be materially adversely affected. Competition may materially adversely affect the Company s results of operations. NMHG relies primarily on its network of dealers to sell its lift trucks and aftermarket parts and has no direct control over sales by those dealers to customers. If NMHG s independent dealers become ineffective or perform poorly, the Company s results of operations could be materially adversely affected. The expiration of existing anti-dumping duties and manufacturing by Japanese competitors in the United States could adversely affect NMHG s competitive position, revenues, results of operations and financial condition. NMHG s business may be subject to retaliatory duties imposed by the European Union. s actual liabilities relating to pending lawsuits may exceed its expectations NMHG has guaranteed, or is subject to repurchase or recourse obligations with respect to, financing arrangements of some of its customers. NMHG is subject to risks relating to its foreign operations. s actual liabilities relating to environmental matters may exceed its expectations The increasing concentration of HB/PS household appliance customer base could negatively affect sales levels or profits. The appliance industry is consolidating, which could have a material adverse effect on the Company s success.

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