The president of Toyota Industries Corporation (TICO), Akira Onishi, has announced TICO's acquisition of the forklift business of Tailift Co., Ltd. The deal will see the forklift business of Tailift spun-off into a new jointly-operated entity.
Tailift is a global top-20 manufacturer of industrial machine tools and IC and electric forklifts, with sales mainly targeted towards emerging markets. Tailift says that with this deal in place, it aims to achieve growth in the world market as a whole.
In a statement to SHD Logistics, Toyota Material Handling Europe said: “This acquisition is clearly a part of TICO's strategy to achieve Vision 2020. TICO sees Tailift as an important partner in capturing emerging markets to increase our share of markets through the synergies after this acquisition.
"TICO has been ranked No.1 in material handling market since 2001 and intends to maximise synergy by leveraging the strengths of both companies and increase further growth of the forklift business in the world market.
"In Europe, we continue to listen and analyse the market to be first in customer satisfaction by bringing exceptional efficiency to material handling operations.”
Taiilift says the decision was made "in view of the efficiencies to be gained from specialisation and reorganisation", and that the operation and management of the new entity will continue to be directed by the Lin family, with chairman Lin Xi-wen continuing to lead and manage the new forklift business until 2020, when he will reach the expected retirement age of 70 years old.
Thereafter, a decision will be taken whether to pass the operation and management of the business may to a second generation, whilst continuing the close cooperation with TICO in the operation of the business.
Manufacturing in Taiwan, Tailift’s Forklift Division has a production capacity of 28,000 units per annum. Its headquarters are located in Taichung, Taiwan, and the company was established in 1973. It employs 1,000 workers.
In 2011, Tailift appointed Industrial Truck Distribution (ITD) as its exclusive distributor in the UK for its range of Tailift branded products.