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Cascade Corporation, subsidiary of Toyota Industries, Has Acquired Forklift Mast Manufacturer, Lift-Tek

― Strengthen automation support for expansion of industrial vehicle business ―

Cascade Corporation (President & CEO: Davide Roncari), subsidiary of Toyota Industries Corporation (President: Akira Onishi) has acquired Lift Technologies, Inc. (USA) and Lift-Tek Elecar S.p.A. (Italy), more commonly referred to as Lift-Tek, which manufactures and sells forklift masts. It acquired all shares of Lift-Tek to become wholly owned subsidiaries on October 26.

Forklifts are used for various material handling operations such as factories and distribution warehouses, and the work contents and packing styles are diverse. Therefore, installing appropriate forks and attachments *1 enable conventional forklifts and automated guided vehicles (AGVs) to become a more versatile and efficient materials handling tool.

In 2013, Toyota Industries made Cascade, the world's largest forklift attachment manufacturer, a subsidiary, and have provided products and high-quality services that are optimal for the customer's work environment.

Lift-Tek has abundant product groups in the special mast *2 field, including models in two, three, four and five stage configurations, with capacities up to 52 tons, and has high competitiveness in the North American and European markets.

The acquisition gives the company the opportunity to bundle Lift-Tek masts with Cascade attachments for those customers who require a custom solution for the front end of their forklift or automated guided vehicle (AGV) - further expanding the lineup of customized products for forklifts,

Toyota Industries will meet the needs of customers around the world and aim for further growth of the industrial vehicle business through its global sales and service network and abundant products.

*1 Attachment: A device that is installed in place of the fork of a forklift to streamline various load handling operations. Enable a forklift to lift, rotate, tilt and clamp practically any load imaginable, from appliances to paper rolls, bottles to textiles, crates, pulp, and much more.
*2 Mast: part of the forklift or AGV that acts as a rail and moves up and down to position a load.

1. Overview of Lift-Tek

1) Company name: Lift Technologies, Inc. (USA), Lift-Tek Elecar S.p.A. (Italy)
2) Headquarters location
Westminster, South Carolina, USA
Piacenza, Emilia-Romagna, Italy
3) Established:1999
4) Business description: Production and sales of material handling equipment for forklifts
5) Sales of $ 111 million (2020)
6) Number of employees 372 (as of the end of March 2021)

2. Overview of Cascade

1) Company name: Cascade Corporation
2) Headquarters location: Portland, Oregon, USA
3) Established:1943
4) Business description: Production and sales of material handling equipment for forklifts
5) Number of employees 2,413 (as of the end of September 2021)

News Releases 2021