Toyota Material Handling Merges with Raymond Corporation for Growth
Toyota Material Handling and Raymond Corporation Join Forces
Two North American leaders in the material handling industry are coming together to form a unified entity known as Toyota Material Handling North America. This strategic integration aims to better serve customers by combining the strengths of both brands.
Commitment to Brand Identity and Customer Relationships
Team officials have asserted their dedication to maintaining the distinct brand identities of both Toyota and Raymond, even as they unify their operations. This careful approach is designed to preserve and enhance customer relationships, ensuring that customers continue to receive the high-quality service they expect from both brands.
Leadership and Future Goals
The leadership of the new organization will be overseen by President & CEO Brett Wood. Wood, who has a solid reputation in the material handling sector, brings years of experience to this role. Additionally, he serves as a Senior Executive Officer for Toyota Industries Corporation, the parent company of TMHNA.
Retirement and Transition of Leadership Roles
Current leaders, including Bill Finerty from Toyota Material Handling and Michael Field from The Raymond Corporation, are transitioning into new roles. Finerty is set to retire, while Field will take on the role of Chief Operations Officer for TMHNA.
Innovations and Investments for Growth
Wood remarked on the significance of this merger, noting that it allows both brands to innovate and respond to changing customer needs effectively. The new organization is positioned to leverage resources and talent across both companies, aiming to solidify its place as an industry leader.
Focus on Workforce Stability
It's important to note that this consolidation will not lead to workforce reductions. Instead, TMHNA aims to expand its investment in personnel to foster further growth. Currently, one in three forklifts sold in North America is a product from either Toyota or Raymond, underscoring their market impact.
Manufacturing and Expansion Plans
TMHNA operates four main manufacturing plants across North America. The recent ground-breaking for a new 295,000 square-foot factory marks a significant commitment to increasing production capacity, particularly for electric products. Scheduled to open a few years down the line, this expansion is expected to enhance operational efficiency.
Ensuring Customer-Centric Strategy
Focusing on customer needs remains at the forefront of TMHNA's strategy. Wood emphasizes that the merger is ultimately about delivering superior products, services, and support to customers across the material handling industry. The unified organization is geared up to meet and exceed the evolving expectations of the market.
About Toyota Material Handling North America
Toyota Material Handling North America (TMHNA) stands as a frontrunner in forklift sales and includes two major companies, Toyota Material Handling, Inc. and The Raymond Corporation. Together, these entities boast a substantial manufacturing footprint, producing over 1,900 forklifts weekly and generating significant annual revenue.
About Toyota Material Handling
Toyota Material Handling is dedicated to providing a comprehensive range of material handling solutions, including forklifts and advanced automation technologies. Their extensive dealer network plays a crucial role in offering customized solutions tailored to specific customer challenges across North America.
About The Raymond Corporation
The Raymond Corporation is recognized for its commitment to innovation in material handling solutions. With a history of over 100 years, Raymond leverages technology to improve productivity and enhance performance in warehouse operations, delivering exceptional value to its customers.
Frequently Asked Questions
What is the significance of the TMHNA merger?
The merger allows for a unified approach to material handling solutions, enhancing efficiency and customer service.
Who will lead the new organization?
Brett Wood will serve as the President & CEO of Toyota Material Handling North America.
Will there be layoffs after the merger?
No, TMHNA intends to invest in its workforce and maintain stability within its teams.
What are TMHNA's manufacturing capabilities?
TMHNA operates four major manufacturing plants producing a range of forklifts and material handling equipment.
What does the future hold for Toyota Material Handling?
TMHNA is focused on innovation, customer service, and expanding its product offerings to remain competitive in the market.
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