TICO and TMC will develop and produce diesel engines under one roof.

After announcing the establishment of a new global finance firm last month (Forkliftaction.com News #692), Toyota Industries Corp (TICO) and Toyota Motor Corp (TMC) will consolidate their joint diesel engine development and production under the control of TICO.

The move is expected to strengthen the competitiveness of both companies by bringing the development and production of diesel engines under one roof and enabling more efficient allocation of resources.

The separate diesel engine development functions will be gradually consolidated under the control of TICO, which will also be responsible for the production of all new diesel engines in the future.

Toyota says in addition to creating a more efficient business structure, this will also help to deepen the expertise of TICO in the development and production of more competitive automotive diesel engines.

By adding automotive diesel engine technology to its forklift engine and industrial machinery fields, TICO aims to both expand the scale of its business and improve the efficiency of its development work.