Cascade 8-K Third Quarter Fiscal 2013 Summary

Exhibit 99.1

Portland, Oregon

November 28, 2012

FOR IMMEDIATE RELEASE

CASCADE CORPORATION ANNOUNCES FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED OCTOBER 31, 2012

Cascade Corporation (NYSE: CASC) today reported its financial results for the third quarter ended October 31, 2012.

Third Quarter Fiscal 2013 Summary

• Summary financial results are outlined below (in thousands, except earnings per share):

Three Months Ended October 31	2012			2011			% Change
Net sales	$	137,193		$	138,024			(1	%)
Gross profit		42,088			45,183			(7	%)
Gross profit %		31	%		33	%
SG&A		23,678			21,784			9	%
Operating income		18,410			23,399			(21	%)
Operating income %		13	%		17	%
Interest expense (income), net		(56	)		20			—
Foreign currency loss		22			378			(94	%)
Income before taxes		18,444			23,001			(20	%)
Provision for income taxes		5,153			3,426			50	%
Effective tax rate		28	%		15	%
Net income	$	13,291		$	19,575			(32	%)
Diluted earnings per share	$	1.16		$	1.74			(33	%)

• Consolidated net sales during the third quarter of fiscal 2013 increased slightly over the third quarter of fiscal 2012, excluding the impact of foreign currency changes, due to higher sales of products related to the construction industry in the Americas region. Details of the change in net sales compared to the prior year are as follows (in thousands):

	Amount			Change %
Net sales change	$	1,105			1	%
Foreign currency change		(1,936	)		(2	%)
Total	$	(831	)		(1	%)

Cascade Corporation

November 28, 2012

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• Our consolidated gross profit percentage decreased to 31% during the third quarter of fiscal 2013 primarily due to proportionately higher sales of lower margin products.

• Selling and administrative expense increased primarily due to $1.9 million of costs related to the pending acquisition by Toyota Industries Corporation.

• The effective tax rate of 28% in the third quarter of fiscal 2013 was higher than the effective tax rate of 15% in the third quarter of fiscal 2012 primarily due to the release of a $3.6 million tax valuation allowance in The Netherlands in the prior period.

Market Conditions

• Percentage changes in lift truck industry shipments and orders, by region, as compared to the prior year are outlined below. Although lift truck unit data provides an indicator of the general health of the industry and our business over a six- to twelve-month period, it does not necessarily correlate directly with the demand for our products on a quarterly basis.

	Shipments Q3 Fiscal 2013  vs 2012			Orders Q3 Fiscal 2013 vs 2012
Americas		(1	%)		5	%
Europe		(4	%)		1	%
Asia Pacific		—			(1	%)
China		(15	%)		(8	%)
Global		(5	%)		(1	%)

• Volatility in the global lift truck market is continuing. The Americas, Europe and Asia Pacific markets experienced flat to lower shipment levels. China’s shipments were well below prior year shipments, which were at record levels.

Americas Summary

• Summary financial results are outlined below (in thousands):

Three Months Ended October 31	2012			2011			% Change
Net sales	$	78,857		$	73,309			8	%
Transfers between areas		5,299			6,946			(24	%)
Net sales and transfers		84,156			80,255			5	%
Gross profit		24,976			26,500			(6	%)
Gross profit %		30	%		33	%
SG&A		14,837			12,373			20	%
Operating income	$	10,139		$	14,127			(28	%)
Operating income %		12	%		18	%

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• Net sales increased 8%, excluding the impact of currency changes. Details of the change in net sales over the prior year quarter follow (in thousands):

	Amount		Change %
Net sales change	$	5,499		8	%
Foreign currency change		49		—
Total	$	5,548		8	%

• Our gross profit percentage was lower compared to the prior year due to proportionately higher sales of lower margin products, including to the construction industry.

• Selling and administrative expense increased primarily due to $1.9 million of costs related to the pending acquisition by Toyota Industries Corporation (TICO).

Europe Summary

• Summary financial results are outlined below (in thousands):

Three Months Ended October 31	2012			2011			% Change
Net sales	$	22,495		$	27,184			(17	%)
Transfers between areas		222			107			107	%
Net sales and transfers		22,717			27,291			(17	%)
Gross profit		4,079			5,767			(29	%)
Gross profit %		18	%		21	%
SG&A		4,014			4,658			(14	%)
Operating income	$	65		$	1,109			(94	%)
Operating income %		—			4	%

• Net sales decreased 10%, excluding the impact of currency changes, primarily as a result of a weakening lift truck market reflective of economic conditions in Europe. Details of the change in net sales over the prior year quarter follow (in thousands):

	Amount			Change %
Net sales change	$	(2,813	)		(10	%)
Foreign currency change		(1,876	)		(7	%)
Total	$	(4,689	)		(17	%)

• The decrease in our gross profit percentage is a result of lower cost absorption due to decreased sales volumes and higher product costs.

Cascade Corporation

November 28, 2012

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Asia Pacific Summary

• Summary financial results are outlined below (in thousands):

Three Months Ended October 31	2012			2011			% Change
Net sales	$	19,741		$	20,158			(2	%)
Transfers between areas		15			15			—
Net sales and transfers		19,756			20,173			(2	%)
Gross profit		5,752			5,912			(3	%)
Gross profit %		29	%		29	%
SG&A		3,111			3,007			3	%
Operating income	$	2,641		$	2,905			(9	%)
Operating income %		13	%		14	%

• Net sales in the region remained flat, excluding the impact of foreign currencies, as an increase in sales in Australia was offset by sales decreases in Japan and Korea. Details of the change in net sales over the prior year quarter follow (in thousands):

	Amount			Change %
Net sales change	$	(104	)		—
Foreign currency change		(313	)		(2	%)
Total	$	(417	)		(2	%)

• In general, operating results during the third quarter of fiscal 2012 were relatively consistent with the prior year as economic conditions in this region remained stable.

China Summary

• Summary financial results are outlined below (in thousands):

Three Months Ended October 31	2012			2011			% Change
Net sales	$	16,100		$	17,373			(7	%)
Transfers between areas		7,590			9,016			(16	%)
Net sales and transfers		23,690			26,389			(10	%)
Gross profit		7,281			7,004			4	%
Gross profit %		31	%		27	%
SG&A		1,716			1,746			(2	%)
Operating income	$	5,565		$	5,258			6	%
Operating income %		23	%		20	%

Cascade Corporation

November 28, 2012

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• Net sales decreased 8%, excluding currency changes, primarily due to a slowdown in the Chinese economy and lift truck industry. Details of the change in net sales over the prior year quarter follow (in thousands):

	Amount			Change %
Net sales change	$	(1,477	)		(8	%)
Foreign currency change		204			1	%
Total	$	(1,273	)		(7	%)

• Our gross profit percentage increased due to an increased percentage of higher margin product sales and to a lesser extent a reduction in the cost of steel.

Forward Looking Statements:

This press release contains forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 which include, among others, statements relating to our expectations with respect to global lift truck demand, future levels of business activity, and the proposed acquisition by TICO. Readers are cautioned that a number of factors could cause our actual results to differ materially from any results indicated in this release or suggested by any other forward-looking statements made by us. These include among others, factors related to our pending acquisition by TICO (including the potential for diversion of management attention and disruption of our operations and customer relationships, as well as the possibility that conditions to completion of the acquisition may not be satisfied or waived, which could delay or prevent the acquisition), general economic conditions, interest rates, the impact of the European debt crisis on our European market and the global economy, performance of our manufacturing facilities and the cyclical nature of the materials handling and construction equipment industries. Further, historical information should not be considered an indicator of future performance. Additional considerations and important risk factors are described in our reports on Form 10-K and 10-Q and other filings with the Securities and Exchange Commission.

About Cascade Corporation:

Cascade Corporation, headquartered in Fairview, Oregon, is a leading international manufacturer of materials handling products used primarily on lift trucks. Additional information on Cascade is available on its website,www.cascorp.com.

Contact

Joseph G. Pointer

Chief Financial Officer

Cascade Corporation

Phone (503) 669-6300

Email: investorrelations@cascorp.com

Cascade Corporation

November 28, 2012

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CASCADE CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited — in thousands, except per share amounts)

	Three Months Ended					Nine Months Ended
	October 31					October 31
	2012			2011		2012		2011
Net sales	$	137,193		$	138,024	$	414,838	$	409,843
Cost of goods sold		95,105			92,841		287,396		276,976
Gross profit		42,088			45,183		127,442		132,867
Selling and administrative expenses		23,678			21,784		68,282		63,984
Operating income		18,410			23,399		59,160		68,883
Interest expense (income), net		(56	)		20		155		477
Foreign currency loss		22			378		257		1,037
Income before provision for income taxes		18,444			23,001		58,748		67,369
Provision for income taxes		5,153			3,426		17,610		17,519
Net income	$	13,291		$	19,575	$	41,138	$	49,850
Basic earnings per share	$	1.19		$	1.78	$	3.71	$	4.54
Diluted earnings per share	$	1.16		$	1.74	$	3.61	$	4.42
Basic weighted average shares outstanding		11,124			11,016		11,090		10,979
Diluted weighted average shares outstanding		11,423			11,256		11,392		11,280
Cash dividends per share	$	0.35		$	0.25	$	1.05	$	0.65

Cascade Corporation

November 28, 2012

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CASCADE CORPORATION

CONSOLIDATED BALANCE SHEETS

(Unaudited - in thousands, except per share amounts)

	October 31		January 31
	2012		2012
ASSETS
Current assets:
Cash and cash equivalents	$	35,248	$	24,928
Accounts receivable, less allowance for doubtful accounts of $1,149 and $1,211		84,048		77,752
Inventories		89,461		86,660
Deferred income taxes		4,470		3,822
Assets available for sale		—		7,572
Prepaid expenses and other		13,635		11,353
Total current assets		226,862		212,087
Property, plant and equipment, net		80,510		71,439
Goodwill		88,324		88,174
Deferred income taxes		22,231		18,964
Other assets		5,601		3,895
Total assets	$	423,528	$	394,559
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Notes payable to banks	$	—	$	99
Current portion of long-term debt		—		590
Accounts payable		27,174		28,280
Accrued payroll and payroll taxes		10,042		9,473
Accrued incentive pay		2,119		2,496
Other accrued expenses		12,821		15,580
Total current liabilities		52,156		56,518
Long-term debt, net of current portion		3,200		4,950
Accrued environmental expenses		1,275		2,279
Deferred income taxes and other tax liabilities		11,608		8,626
Employee benefit obligations		8,384		8,228
Other liabilities		2,831		3,231
Total liabilities		79,454		83,832
Commitments and contingencies
Shareholders’ equity:
Common stock, $.50 par value, 40,000 authorized shares; 11,199 and 11,088 shares issued and outstanding		5,600		5,544
Additional paid-in capital		17,753		13,252
Retained earnings		280,700		251,280
Accumulated other comprehensive income		40,021		40,651
Total shareholders’ equity		344,074		310,727
Total liabilities and shareholders’ equity	$	423,528	$	394,559

Cascade Corporation

November 28, 2012

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CASCADE CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited - in thousands)

	Three Months Ended						Nine Months Ended
	October 31						October 31
	2012			2011			2012			2011
Cash flows from operating activities:
Net income	$	13,291		$	19,575		$	41,138		$	49,850
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		2,673			2,622			7,879			7,508
Share-based compensation		785			571			2,141			1,916
Deferred income taxes		(693	)		(1,635	)		(3,983	)		(1,445	)
Tax effect on share-based compensation		—			439			(1,574	)		(261	)
Gain on disposition of assets, net		(6	)		(10	)		(36	)		(146	)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable		(884	)		(555	)		(8,396	)		(17,794	)
Inventories		845			(4,622	)		(2,174	)		(16,903	)
Prepaid expenses and other		(692	)		(2,148	)		(1,780	)		(6,719	)
Accounts payable and accrued expenses		1,929			906			(934	)		8,679
Income taxes payable and receivable		(1,200	)		3,761			(1,299	)		2,088
Other assets and liabilities		(366	)		804			1,854			2,172
Net cash provided by operating activities		15,682			19,708			32,836			28,945
Cash flows from investing activities:
Capital expenditures		(3,604	)		(3,482	)		(9,361	)		(9,190	)
Proceeds from disposition of assets		45			122			156			1,174
Business acquisition		(68	)		—			(1,266	)		—
Net cash used in investing activities		(3,627	)		(3,360	)		(10,471	)		(8,016	)
Cash flows from financing activities:
Cash dividends paid		(3,919	)		(2,769	)		(11,718	)		(7,190	)
Payments on long-term debt		(20,821	)		(37,146	)		(116,894	)		(77,423	)
Proceeds from long-term debt		9,000			10,500			114,700			57,000
Notes payable to banks, net		—			635			(98	)		635
Common stock issued under share-based compensation plans		34			—			842			809
Tax effect on share-based compensation		—			(439	)		1,574			261
Net cash used in financing activities		(15,706	)		(29,219	)		(11,594	)		(25,908	)
Effect of exchange rate changes		(450	)		523			(451	)		(263	)
Change in cash and cash equivalents		(4,101	)		(12,348	)		10,320			(5,242	)
Cash and cash equivalents at beginning of period		39,349			32,143			24,928			25,037
Cash and cash equivalents at end of period	$	35,248		$	19,795		$	35,248		$	19,795