NACCO Industries originated in 1913 with the incorporation of the The Cleveland and Western Coal Company. The name was changed to The North American Coal Corporation (NACCO) in 1925, and the company operated exclusively in the coal industry until the acquisition of Yale Materials Handling Corporation in 1985. This was followed in 1986 by creation of the holding company under the name NACCO Industries, Inc. In 1988, NACCO Industries expanded into housewares with the purchase of Proctor Silex and Hamilton Beach, and expanded its presence in the materials handling industry by adding the Hyster Company in 1989. Hyster-Yale was spun off in 2012.