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— Expanding the product line-up and strengthening business in emerging markets —
Toyota Industries Corporation (hereafter Toyota Industries) has acquired the lift truck operations for Tailift Co., Ltd. (hereafter Tailift), a company which focuses on the development, production, and sales of lift trucks and machine tools in Taiwan and China. In August 2015, Tailift split off their lift truck business and Toyota Industries acquired a 55% share in the new company for just over 10 billion yen.
In 2014 the lift truck global market exceeded one million units. Strengthening our business in emerging countries, which account for approximately 40% of the market, is a key priority for Toyota Industries.
The creation of this Tailift subsidiary, with its strengths in development, production, and sales of products that meet the needs of emerging markets, and the addition of the company's price competitive products to the line-up, enables Toyota Industries to further strengthen our ability to respond to these targeted markets.
By leveraging our global network and experience in sales and marketing, we can utilize Tailift products in a manner that is optimized for each country and region.
In production and procurement, we will work to improve the quality and productivity in the Taiwanese and Chinese production bases using the KAIZEN (continuous improvement) knowledge we have accumulated over the years .
Now and in the future, we will create new products and services that combine the strength of the two companies.
Using our global sales and service networks as well as an extensive product portfolio, Toyota Industries aims to further grow its materials handling equipment business and meet the needs of customers throughout the world, including those in emerging countries.
◎New company outline (Tailift lift truck business)
1) Company name: Holding company: LT Material Handling Holding Pte. Ltd. (LTMH).
(Shareholder ratio: Toyota Industries 55%,
Representative: Toyota Industries Managing Officer, Toru Inagawa)
Operating company (Taiwan) Tailift Material Handling Taiwan Co., Ltd.
Operating company (China) Tailift Machinery & Equipment (Qingdao) Co., Ltd.
Operating company (USA) Tailift Material Handling USA Inc.
(Shareholder ratio: LTMH 100% at all 3 operating companies,
Representative: Chi-Wen Lin at all 3 operating companies)
2) Major Products: Internal combustion lift trucks, electric lift trucks, tow tractors, etc.
3) Sales Volume: Approx. 18 billion yen (Fiscal year ended December 2014)
4) Units Sold: 11,000 units (Fiscal year ended December 2014)
5) Employees: Approx. 1,100 people (As of December 31, 2014)