MERGERS & ACQUISITIONS
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Toyota Material Handling USA bolsters dealer, customer support services
The company plans to acquire Toyota Canada's industrial equipment unit.
By OC METRO staffPublished: April 04, 2011 09:49 AM
Irvine-based Toyota Material Handling USA (TMHU) plans to acquire the industrial equipment unit of Toyota Canada Inc., effective Oct. 1.
TMHU is a unit of Toyota Material Handling North America (TMHNA) and is the top lift-truck supplier in the region. The company specializes in lift trucks, and electric and diesel tow tractors. Toyota Canada Industrial Equipment Division supplies trucks and parts to dealers in the country.
The new deal is expected to bolster the North American organization's dealer and customer support services by bringing together operations throughout the U.S. and Canada.
“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.”
Under the acquisition, TMHU President Brett Wood will take over responsibility for the new market. Toyota Canada Industrial Equipment Division Director Rob Reinders will join the local firm's senior management team; there will be no job losses at the unit as a result of the deal.
“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 CEO of Toyota Canada. “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.”
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TMHU is a unit of Toyota Material Handling North America (TMHNA) and is the top lift-truck supplier in the region. The company specializes in lift trucks, and electric and diesel tow tractors. Toyota Canada Industrial Equipment Division supplies trucks and parts to dealers in the country. The new deal is expected to bolster the North American organization's dealer and customer support services by bringing together operations throughout the U.S. and Canada. “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.” Under the acquisition, TMHU President Brett Wood will take over responsibility for the new market. Toyota Canada Industrial Equipment Division Director Rob Reinders will join the local firm's senior management team; there will be no job losses at the unit as a result of the deal. “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 CEO of Toyota Canada. “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.” Related headlines Grubb & Ellis secures $18 million in financing O.C.'s growth in exports, visitor spending are bright spots in economy O.C.'s new-vehicle sales surge in February |
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