Toyota Material Handling, The Raymond Corporation to Become One Integrated Organization

The two North American leaders in material handling products and solutions will be unified into one company under the name Toyota Material Handling North America to best support their customers.

COLUMBUS, Ind., Jan. 8, 2025 /PRNewswire/ -- Toyota Material Handling and The Raymond Corporation – two leading providers of material handling solutions – will formally integrate into one company under the name Toyota Material Handling North America (TMHNA), effective April 1.

TMHNA announced its commitment to maintaining unique brand identities for both Raymond and Toyota in the marketplace, striving to preserve and enhance its customer relationships.

Toyota acquired The Raymond Corporation in 2001. This unification will allow TMHNA to leverage the unique strengths of both organizations to be more efficient for the benefit of both Toyota and Raymond customers.

The organization will integrate both the Toyota and Raymond president responsibilities into TMHNA, which will be led by President & CEO Brett Wood. Wood, a respected leader in the material handling industry, also serves as a Senior Executive Officer for TMHNA's parent company Toyota Industries Corporation (TICO).

Current Toyota Material Handling President & CEO Bill Finerty will formally retire at the end of March. Michael Field, the current President & CEO of The Raymond Corporation, will become TMHNA's Chief Operations Officer (COO).

"This is a historic day for our company, customers, dealers, and associates," Wood said. "Our customers' needs are evolving rapidly, and we must prepare and adapt to an ever-changing market. We have an amazing opportunity to leverage the best people, processes, and products into one unified organization. We want to become the undisputed industry leader in solving our customers' problems through innovation for decades to come."

This integration will not result in layoffs. In fact, TMHNA plans to invest even more in its people to accelerate growth. One in three forklifts sold in North America is either a Toyota or Raymond product.

"Our goal isn't to reduce our workforce, but rather to bring together the strengths, resources, and talent from throughout our organizations," said Wood. "Together, we will create a more dynamic, more resilient organization. We will continue to invest in the growth and development of all our associates."

TMHNA builds its products at four main manufacturing plants – in Columbus, Indiana; Greene, New York; Muscatine, Iowa; and East Chicago, Indiana (Toyota Heavy Duty Division). Late last year, the company broke ground on a new 295,000 square-foot factory across the street from its existing North American headquarters in Columbus. The new factory, which will focus specifically on producing electric products to drive down lead times, is scheduled to open in 2026.

To optimize manufacturing processes, a $50 million investment to building, infrastructure and equipment elevated operations in Greene, New York, and Muscatine, Iowa manufacturing facilities.

"Our customers will always be at the center of our strategy, and ultimately, this integration is about doing what is best for our customers," Wood said. "As a unified organization, we will deliver the industry's best products, services, and support – ensuring we meet and exceed our customers' evolving needs and expectations."

About Toyota Material Handling North America
Toyota Material Handling North America (TMHNA), the industry leader in forklift sales, is composed of two main group companies: Toyota Material Handling, Inc. and The Raymond Corporation. One in three forklifts sold in North America is either a Toyota or Raymond product. With nearly 2.5 million square feet of manufacturing space, TMHNA is composed of four manufacturing plant locations: Columbus, Indiana; Greene, New York; Muscatine, Iowa; and East Chicago, Indiana, that produce more than 1,900 forklifts per week. With an annual revenue of over $6 billion, TMHNA has more than 16,000 associates and nearly 300 dealers and solutions and support centers to support Toyota and Raymond customers throughout North America.

About Toyota Material Handling 
Toyota Material Handling offers material handling products and solutions, including forklifts, reach trucks, order pickers, pallet jacks, container handlers, automated guided vehicles, and tow tractors, along with aerial work platforms, fleet management services, and advanced automation engineering and design. Toyota's commitment to quality, reliability and customer satisfaction, the hallmark of the Toyota Production System, extends throughout more than 230 locations across North America. With access to an industry-leading lineup of material handling products, Toyota dealers are uniquely positioned to help solve wide-ranging challenges in warehousing and distribution. Built for every application, Toyota can provide the most complete set of solutions for material handling, automation, energy, advanced logistics, and warehouse optimization.

About The Raymond Corporation 
The Raymond Corporation, a member of the Toyota Industries family of companies, is a leading global provider of best-in-class material handling products and intelligent intralogistics solutions with headquarters in Greene, New York. Built on principles of innovation and continuous improvement for over 100 years, Raymond's integrated automation, telematics, virtual reality and advanced energy solutions provide ways to optimize operations and bring warehouse and distribution operations to a new level of performance. Raymond^® electric forklift trucks are engineered to achieve increased productivity and efficiency and are designed to provide ecological and economic benefits. Raymond delivers solutions to material handling and logistics markets in North America and globally. Combining operational excellence, award-winning innovation and world-class global customer support, we work together to run better, manage smarter and keep our customers always on.

SOURCE Toyota Material Handling North America (TMHNA)