Toyota Industries Corporation (TICO; President: Akira Onishi) established a new materials handling equipment distributor, named “OOO Toyota Material Handling RUS (TMHRUS)” in Moscow, Russia in July 2013. The move is designed to increase sales within Russia's lift truck market, which shows promise of future growth.
Approximately 300,000 lift trucks are sold in the European market each year. Roughly 25,000 of those lift trucks are destined for Russia, making it the fourth largest market in Europe. This market is expected to continue to grow and become one of Europe's main markets. TICO plans to strengthen its sales network and service structure, and aims to increase sales through the establishment of TMHRUS.
TICO will utilize its rich lineup of Toyota, BT, and Raymond brand products as well as its worldwide sales and service network to take swift and finely-tuned responses to customer logistics needs. Below is a profile of the new company.