Lift truck vendor Mitsubishi Caterpillar Forklift America Inc. (MCFA) is buying back the MCFA shares now held by its minority stockholder, Caterpillar Industrial Inc., the companies said today.
That move will trigger Houston-based MCFA’s parent company, the North American material handling equipment provider Mitsubishi Logisnext Americas group, to become fully owned by Kyoto, Japan-based Mitsubishi Logisnext effective March 1.
Despite the new ownership structure, none of the firms’ brands will see any change in their sales structures. Mitsubishi Logisnext Americas group said it will continue to offer a range of material handling, automation, and fleet solutions to customers through its five leading brands – Cat lift trucks, Mitsubishi forklift trucks, Rocla, UniCarriers Forklifts, and Jungheinrich.
“Caterpillar is proud of its long-standing relationship with Mitsubishi Logisnext,” Phil Kelliher, Caterpillar’s vice president of the Americas Distribution, Service & Marketing Division, said in a release. “We look forward to continuing our global strategic relationship, and we are pleased our customers will continue to be successful with Cat lift truck products.”
More specifically, Caterpillar Inc. and the Mitsubishi Logisnext Americas group will continue their long-term strategic relationship, working together to deliver new products and solutions, and the Cat lift trucks brand will continue to be used globally by the Mitsubishi Logisnext group, the companies said.
Additionally, Jungheinrich AG and the Mitsubishi Logisnext Americas group will continue operating under their existing, long-term manufacturing and distribution agreement for the North American market.
“We’re excited to take this next step as Mitsubishi Logisnext Americas,” Ken Barina, president of Mitsubishi Logisnext Americas, said in a release. “Today’s milestone further demonstrates our long-term commitment to serving the Americas market, and we look forward to the next chapter ahead.”