Material handling product vendor Toyota Industries North America Inc. has finalized its acquisition of Hoist Liftruck Mfg. LLC, officially adding a new family of vehicles to its line of heavy-duty equipment.
First announced in February, the deal allows Toyota to sell East Chicago, Ind.-based Hoist's collection of high-capacity vehicles ranging in lift capacity from 7 to 57 tons and including models such as heavy-duty cushion tire and pneumatic forklifts, container handlers, and reach stackers, the firm said.
Toyota has rebranded the firm as Hoist Material Handling Inc. and will manage it through Columbus, Ind.-based Toyota Material Handling USA.
Toyota has had an original equipment manufacturer (OEM) agreement with Hoist for the manufacture of large-capacity forklifts under the Toyota Heavy Duty (THD) brand since 2015.
The assets of Hoist Liftruck Mfg., LLC, have been acquired by Toyota Industries North America, Inc., effective April 1, 2019. The name of the new company is Hoist Material Handling, Inc., and it will be managed directly by Toyota Material Handling USA in Columbus, IN. pic.twitter.com/eoWeUxo50p— Hoist Material Handling (@hoistmh) April 1, 2019