Toyota sets up new company in India

News Story
- 23 Dec 2010 ( #494 ) - Tokyo, Japan
1 min read
Toyota Industries Corp (TICO) has established a forklift sales company in India, Toyota Material Handling India (TMHI).

TMHI, a wholly owned subsidiary of Tokyo-based TICO, will sell materials handling equipment in India through its sales and service network, International Business Times reported.

TMHI managing director Toshiro Ishihara says the materials handling equipment market is growing in India. "We want to tap the opportunity. Toyota has a good brand in the automobile sector in [India] and we hope to achieve a good reputation in this segment also."

TMHI will start operations in May 2011 with sales and service branches in seven cities. The company is expected to increase the number of branches to 20 by the end of 2011. It plans to invest INR200 million (USD4.4 million) in equipment sales and service.

Separately, Toyota Material Handling USA Inc's (TMHU) associate giving programs will donate half a ton of food and goods to Feeding America, the leading US domestic hunger-relief charity.

TMHU president Brett Wood says Toyota associates in Columbus, Indiana and Irvine, California have responded generously to the company's corporate giving programs. "As a result, the donations raised will provide food and essentials to many in need this holiday season."
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