Members of Unite had voted to go on strike after a 5.5 percent pay offer was rejected by workers at the forklift truck manufacturing plant.
The union said that workers this week at voted to accept a significantly improved pay offer of eight percent with a majority of 93 percent.
A spokesperson for Unite said: “The improved and backdated offer raises pay this year by 8 percent made up of 6.5 percent on pay plus two additional half-day holidays and two floating holidays.”
Unite general secretary Sharon Graham said: “Unite’s members at Hyster-Yale stood firm for what was right and won improved pay and holidays as a result.
“Once again we have shown that Unite delivers on jobs, pay and conditions.”
Deputy regional secretary Davy Thompson expressed his support for the workers: “This improved pay offer – alongside additional paid holidays - was secured through the willingness of the Hyster-Yale workforce to take strike action. “These workers can have confidence in the strength of their organisation and ability to fight for their interests in the future,” said Mr Thompson.
The improved offer was made by management after workers voted down a 5.5 percent pay increase with a majority of 85.3 percent.
Strike action was then suspended pending a ballot on the improved offer.