EXHIBIT 21

SUBSIDIARIES OF NACCO INDUSTRIES, INC.

As of the date of the Annual Report on Form 10-K to which this is an
Exhibit, the subsidiaries of NACCO Industries, Inc. were as follows:

NAME INCORPORATION
- ---- -------------

Bellaire Corporation Ohio
The Coteau Properties Company Ohio
The Falkirk Mining Company Ohio
Hamilton Beach/Proctor-Silex, Inc. Delaware
Hamilton Beach/Proctor-Silex de Mexico, S.A. de C.V. Mexico
Housewares Holding Company Delaware
HB/PS El Paso, Inc. Delaware
HB*PS Foreign Sales Corp. Virgin Islands
HB-PS Holding Company, Inc. Delaware
NACCO Materials Handling Group, Pty., Ltd. Australia
NACCO Materials Handling, B.V. Netherlands
NACCO Materials Handling, S.r.l. Italy
Hyster Europe Limited United Kingdom
NACCO Materials Handling Limited United Kingdom
Hyster-Yale Materials Handling, Inc. Delaware(1)
The Kitchen Collection, Inc. Delaware
NACCO Materials Handling Group, Inc. Delaware
The North American Coal Corporation Delaware
North American Coal Royalty Company Delaware
Powhatan Corporation Delaware
Proctor-Silex Canada, Inc. Ontario (Canada)
Proctor-Silex, S.A. de C.V. Mexico
The Sabine Mining Company Nevada

The Company has omitted the names of its subsidiaries which, considered in the
aggregate as a single subsidiary, would not constitute a "significant
subsidiary" within the meaning of Rule 1-02 contained in Regulation S-X.

1. NACCO Industries, Inc. owns 98% of the voting securities of Hyster-Yale
Materials Handling Group, Inc.