Newsletter #001 (View other news stories)
TOYODA TO ACQUIRE TOYOTA INDUSTRIAL AS PART OF GLOBAL PLAN
Torrance, United States
Friday, 16 Mar 2001
Torrance, USA -- In an effort to strengthen its global materials handling operations, Japanese company Toyoda Automatic Loom Works (TAL) will acquire US-based Toyota Industrial Equipment (TIE) from Toyota Motor Sales USA Inc on April 1.
Established by inventor Sakachi Toyoda in 1926 as a textile company, TAL owns subsidiaries in the motor, forklift, materials handling and electronic componentry industries.
Forklift sales accounted for 95% of total materials handling sales in the half-year to September 30 2000, which reached JPN (Yen) 82.3 billion (US$761.8 million), a 13% increase over the same period 1999.
The acquisition will see the formation of Toyota Material Handling USA, which will allow TIE, currently a division of Toyota Motor Sales USA Inc, to strengthen its business in supplying materials handling to US industries.
"The new organisation and a unified focus will help TIE be more responsive to our customers' needs," said TIE group vice president and general manager Shankar Basu, in a statement.
"This is a strong commitment to customers in North America and around the globe." Mr Basu will be appointed president and chief executive of the new company.
The move is part of Toyota's long-term strategy, and is related to TAL's acquisition of BT Industries, the Swedish manufacturer of Raymond and BT Prime-Mover lift truck brands, last June.
As reported by forkliftaction.com, TAL purchased BT Industries, acquiring 97.1% of shares and voting rights. As a result, Toyota is now the world's leading supplier of industrial equipment, surpassing Germany-based Linde and US-based Nacco Material Handling Group, which controls the Hyster and Yale brand names.
More than 85% of the Toyota forklifts sold in the US are assembled at the Toyota Industrial Equipment Manufacturing plant in Columbus, Indiana.
Headquartered in Torrance, California, TIE has sold Toyota forklifts in the US for more than 30 years. TAL manufactures Toyota's industrial equipment from its headquarters in Kariya, Japan.
TIE's product range includes cushion and pneumatic tyre gas forklifts with capacities up to 17,500 pounds, and a line of battery electric trucks which includes narrow aisle trucks, three and four-wheel counterbalanced sit-down riders, stand-up riders, walkies and hand pallet trucks.
|
CURRENT NEWS
|
