789933--3/13/2009--NACCO_INDUSTRIES

related topics

{customer, product, revenue}

{cost, regulation, environmental}

{product, market, service}

{condition, economic, financial}

{competitive, industry, competition}

{operation, natural, condition}

{debt, indebtedness, cash}

{operation, international, foreign}

{financial, litigation, operation}

NMHG depends on a limited number of suppliers for specific critical components. If NMHG s current cost reduction and efficiency programs, including the introduction of new products, does not prove effective, the Company s revenues, profitability and market share could be significantly reduced. The failure of NMHG to compete effectively within its industry could result in a significant decrease in the Company s revenues and profitability. NMHG relies primarily on its network of independent dealers to sell its lift trucks and aftermarket parts and has no direct control over sales by those dealers to customers. Ineffective or poor performance by these independent dealers could result in a significant decrease in the Company s revenues and profitability and an inability by NMHG to sustain or grow the business. 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 HBB s business is sensitive to the strength of the U.S. retail market and weakness in this market could adversely affect its business. The market for HBB s products is highly seasonal and dependent on consumer spending, which could result in significant variations in the Company s revenues and profitability. HBB is dependent on key customers and the loss of, or significant decline in business from, one or more of its key customers could materially reduce its revenues and profitability and its ability to sustain or grow its business. HBB depends on third-party suppliers for the manufacturing of all of its products, which subjects the Company to risks, including unanticipated increases in expenses, decreases in revenues and disruptions in the supply chain. Increases in costs of products may materially reduce the Company s profitability. The increasing concentration of HBB s small electric household appliance sales among a few retailers and the trend toward private label brands could materially reduce revenues and profitability. The small electric household and commercial appliance industry is consolidating, which could reduce HBB s ability to successfully secure product placements at key customers and limit its ability to sustain a cost competitive position in the industry. HBB s inability to compete effectively with competitors in its industry, including large established companies with greater resources, could result in lost market share and decreased revenues. The market for KC s products is highly seasonal and dependent on consumer spending, which could result in significant variations in the Company s revenues and profitability. KC faces an extremely competitive specialty retail market, and such competition could result in a reduction of KC s prices and loss of market share. KC may not be able to forecast customer preferences accurately in its merchandise selections. KC depends on third-party suppliers for all of its products, which subjects KC to risks, including unanticipated increases in expenses, decreases in revenues and disruptions in the supply chain. Termination of long-term mining sales contracts could materially reduce the Company s revenues and profitability. NACoal s unconsolidated project mining subsidiaries are subject to risks created by changes in customer demand, inflationary adjustments and tax rates. NACoal s other mining operations, including its consolidated mining operations, are subject to risks created by its capital investment in the mines, the costs of mining the coal and the dragline mining equipment, in addition to risks created by changes in customer demand, inflationary adjustments and tax rates. Mining operations are vulnerable to weather and other conditions that are beyond NACoal s control. Government regulations could impose costly requirements on NACoal. NACoal is subject to federal and state mining regulations, which place a burden on it. NACoal s operations are impacted by the Clean Air Act Amendments on coal consumption.

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789933--3/13/2009--NACCO_INDUSTRIES_INC