Toyota Material Handling Company (TMHC) and BT Group are integrating to create a single global organisation, the Toyota Material Handling Group (TMHG).

The creation of TMHG, which will have one joint management structure and global leadership, is aimed at capitalising on synergy potentials existing in the group, the two companies said in a joint statement.

TMHC president and executive vice president of Toyota Industries Corporation (TICO) Tetsuro Toyoda said the aim of the new governance was to better serve customers and achieve higher levels of performance.

"TMHG will be an organisation realising synergies from current entities thereby maximising TMHG's potential," Toyoda said.

"In the next few months, our global and regional management will investigate how we can identify and promote key initiatives to meet customer demands," he said.

President and CEO of BT Group, Per Zaunders, said TMHG would retain existing "strong brand names", leverage on existing resources and expertise, and continue to use multiple distribution channels to maintain its edge in the marketplace.

"Our vision is to deliver products and services with the highest quality, bringing us to one third of the global industrial trucks market with the best profitability in our industry," Zaunders and Toyoda said.

TICO has owned the BT Industries Group since mid 2000.