Mergers & Acquisitions

Toyota Acquires ProLift Industrial Equipment Co., LLC

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

Original Press Release

Toyota Acquires ProLift Industrial Equipment Co., LLC

Press release date: February 28, 2007

IRVINE, Calif. (February 28, 2007) - Toyota Material Handling, U.S.A., Inc. (TMHU) announced today the acquisition of ProLift Industrial Equipment Co., LLC, one of Toyota's most successful lift truck dealerships based in Louisville, Ky., with branches in Evansville, Ind.; Cincinnati, Ohio; Lexington, Ky.; Dayton, Ohio; Elkins; W. Va. and Indianapolis, Ind. The new company, Toyota Material Handling Midwest, Inc., will do business as ProLift Industrial Equipment, with no change in support or staffing. "ProLift Industrial Equipment is one of Toyota's strongest dealerships with over 20 years experience," said Shankar Basu, president and CEO of TMHU. "This purchase will ensure Toyota's continued representation in the region and offer continued support to ProLift's customers." TMHU entered into this agreement to facilitate succession planning for ProLift. ProLift has one of the most extensive track records of success of all the Toyota dealerships, earning the prestigious President's Award and its predecessor, the Quality Dealer Award, 14 times since 1990. ProLift's key executives and management will remain and continue to manage the business on behalf of TMHU for the foreseeable future. "Toyota is the perfect match for our company," said Bill Skinner, president of ProLift Industrial Equipment. "Toyota's philosophy to place a high value on quality products, customer service and associates mirrors our values. The transition will be seamless and our customers will see business operating as usual." About Toyota Material Handling, U.S.A., Inc. Celebrating its 40th year of establishing operations in the United States, Irvine, Calif.-based Toyota Material Handling, U.S.A., Inc., (TMHU) is the number one selling lift truck supplier in the U.S. since 2002 and offers a full line of high-quality lift trucks sold under the Toyota brand. Built on a reputation for excellence, Toyota is known for its quality, reliability and durability. In fact, third-party research indicates Toyota lift trucks rank highest in quality and value among the top competitors. Quality is the hallmark of Toyota's world-renowned Toyota Production System practiced at all Toyota manufacturing facilities, including TIEM. Toyota's commitment to excellence in customer service extends nationwide. Sixty-nine authorized Toyota Industrial Equipment dealers, with a total of 188 dealership locations throughout the United States, offer comprehensive customer service support, including one-stop shopping for both new and Certified Used lift trucks, parts, service and financing. For more information on TMHU, please visit www.toyotaforklift.com or call 1-800-226-0009 Contact: Melinda Beckett-Maines,
Toyota Material Handling, U.S.A.
949-223-7722,
melinda.beckett-maines@tmhu.com Christine Welch,
RiechesBaird PR,
714-573-0899 ext. 25,
christine@riechesbaird.com

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