Press Release

Hyster-Yale Group Announces Exclusive Distribution Agreement with RICO for Pegasus Elite Line

GREENVILLE, N.C. (September 25, 2017) – Hyster-Yale Group (HYG) announced today that it has entered into an agreement with RICO Manufacturing (RICO) to become the exclusive distributor of RICO’s Pegasus Elite Counterbalance lift truck line.

Based on RICO’s original Pegasus line, the new Elite Counterbalance cushion tire series includes 27 different models, featuring lifting capacities from 20,000 to 50,000 pounds and offering LP, diesel and electric power choices. Multiple mast, carriage and fork combinations are available on the standard chassis to suit a wide range of applications and industries, including metals and automotive stamping and manufacturing.

Through the new distributor agreement, the reliable Pegasus Elite series is now sold and serviced exclusively by authorized Hyster® and Yale® dealers and backed by the HYG parts distribution center in Danville, IL.

“HYG has traditionally offered a full line of pneumatic tire Big Trucks and container handlers to customers in a variety of applications through its Hyster® and Yale® dealers. However, we recognize some customers utilizing our products and services may also require compact, cushion tire solutions,” explains Brett Schemerhorn, President Big Trucks Americas for HYG. He adds, “I am extremely excited that we are now able to offer a full solution to customers requiring cushion tire lift trucks, backed up by some of the strongest material handling dealers in the market today.”

“RICO excels in designing and manufacturing specialty solutions for demanding material handling applications. Our Pegasus Elite Counterbalance line, is built as a standardized product, with performance, safety and quick delivery in mind,” says Steve Shuck, President and COO of RICO Manufacturing. “To further accelerate success in the market, we were looking to partner with a network of experts in the industry. With HYG, we have found an excellent match for the continued growth of this product,” Shuck explains. While Hyster-Yale will be the exclusive distributor of the standardized RICO Pegasus Elite, RICO remains the manufacturer and distributor of its other specialty material-handling solutions.

Pegasus Elite Counterbalance will be manufactured by RICO in its Medina, Ohio, manufacturing plant and will be available for purchase from participating Hyster and Yale dealers throughout the North and South America.

About Hyster-Yale Group, Inc.
Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. Subsidiaries of Hyster-Yale Group include Nuvera Fuel Cells, LLC, an alternative-power technology company focused on fuel-cell stacks and related systems, on-site hydrogen production and dispensing systems, and Bolzoni S.p.A., a leading worldwide producer of attachments, forks and lift tables under the Bolzoni Auramo and Meyer brand names. Hyster-Yale Group, Inc. is a wholly owned subsidiary of Hyster-Yale Materials Handling, Inc. (NYSE:HY). Hyster-Yale Materials Handling, Inc. and its subsidiaries, headquartered in Cleveland, Ohio, employ approximately 6,600 people worldwide.

About RICO Manufacturing
RICO Manufacturing is proud to be fabricators of the world’s finest specialty lift trucks. RICO has pioneered the design, development and manufacturing of specialized lift trucks with capacities ranging from 1,000 to exceeding 400,000 lbs. RICO’s diverse and global customer base includes the industrial, military and commercial markets. For more information contact (330) 723-4050 or visit