Mergers & Acquisitions

Industrial Equipment Division of Toyota Canada Aligns with Toyota Global Material Handling Division

Toyota Material Handling U.S.A., Inc. - Irvine, CA

Original Press Release

Industrial Equipment Division of Toyota Canada Aligns with Toyota Global Material Handling Division

Press release date: April 1, 2011

IRVINE, Calif. - (April 1, 2011) - As part of Toyota Industries Corporation's (TICO) global strategy to focus on its material handling business, Irvine, Calif.-based Toyota Material Handling, U.S.A., Inc. (TMHU) announced today that effective Oct. 1, 2011 it will acquire the Industrial Equipment Division (IED) of Toyota Canada Inc. (TCI). Over the past decade, globally Toyota has strategically separated its industrial equipment operations from its automotive distributors to allow greater focus on each business segment. The restructuring will allow the Toyota Material Handling North America (TMHNA) organization to enhance support to dealers and customers by integrating and aligning business operations throughout Canada and the U.S. With the transfer of business operations to TMHU, Brett Wood, president of TMHU, will assume responsibility over this new market effective Oct. 1, 2011. In addition, current TCI IED director, Rob Reinders, will join TMHU's senior management team with Canadian field staff continuing to provide support to dealers across Canada. There will be no job losses at TCI as a result of the transfer of business operations to TMHU. Toyota is the number one full line supplier of lift trucks in North America and the new integrated business structure will build upon this strong foundation for additional growth in the coming years. The IE Division of TCI currently also supplies specialized trucks and parts to dealers in Canada, who provide customized vehicles to mining companies. This business will now continue solely as part of TCI's automotive operations "Today we are further evolving TMHNA's capabilities to better leverage the knowledge and expertise throughout our North American companies," said Kazue Sasaki, chairman of Toyota Material Handling North America. "This step will ensure that our North American customers continue to receive industry-leading products and service." "We are encouraged by the business opportunities that our Canadian IED dealers will have as they align with Toyota's global material handling business," said Yoichi Tomihara president and chief executive officer of Toyota Canada Inc. "By concentrating on core Toyota material handling efficiencies, Canadian IED dealers will be able to leverage TMNHA's expertise to build their businesses and continue to deliver and enhance their industry leading customer support capabilities." About Toyota Industries Corporation (TICO)
TICO was founded in 1926 by Sakichi Toyoda. Since that time, TICO has promoted diversification and expanded the scope of its business domains to include textile machinery, automobiles (vehicles, engines, car air-conditioning compressors, etc.), material handling equipment, electronics, and logistics solutions. About Toyota Material Handling North America (TMHNA)
TMHNA is comprised of Toyota Industrial Equipment Mfg., Inc. (TIEM), the Columbus, Ind.-based lift truck manufacturing plant; Toyota Material Handling, U.S.A., Inc., (TMHU), North America's number one supplier of lift trucks; and The Raymond Corporation, the North American market leader in electric warehouse trucks. About Toyota Material Handling, U.S.A., Inc. (TMHU)
Celebrating more than 40 years of established operations in the United States, Irvine, Calif.-based TMHU has been the No. 1 selling lift truck supplier in the U.S. since 2002 and currently offers a full line of high-quality lift trucks and electric and diesel tow tractors sold under the Toyota brand. Quality is the hallmark of the Toyota Production System practiced at all Toyota manufacturing facilities, including Toyota Industrial Equipment Mfg., Inc. (TIEM). Most of the Toyota lift trucks sold in North America are manufactured at TIEM, a zero-landfill facility in Columbus, Ind. Toyota Canada Industrial Equipment Division
Established in 1970, Toyota Canada Inc., Industrial Equipment Division offers an extensive line of cushion tire and pneumatic tire internal combustion and electric forklifts with lifting capacities of up to 15,880 kg (35,000 lbs). Thirty-four authorized Toyota Industrial Equipment dealership facilities located throughout Canada offer comprehensive customer support including one-stop shopping for lift trucks, Toyota Genuine Parts and Toyota University accredited service technicians. Christine Welch
Assistant Vice President
12711 Newport Avenue, Suite H
Tustin, CA 92780
714.573.0899 x225 Contact:
Melinda Beckett-Maines
Toyota Material Handling, U.S.A.
949-223-7722
melinda.beckett-maines@tmhu.com Sandy Di Felice
Toyota Canada Inc.
416-431-8350
sdifelice@toyota.ca

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