Register to Subscribe



Home arrow News arrow Business News arrow Toyota Industries Corp establishes Indian subsidiary for Material Handling
Toyota Industries Corp establishes Indian subsidiary for Material Handling Print E-mail
Written by Anand   
Monday, 20 December 2010
New Delhi: Toyota Industries Corporation (TICO, Japan) has established a Sales company in India in Dec 2010, named "Toyota Material Handling India Pvt Ltd" (TMH India) to expand sales in promising Material Handling Market of India.

TMH India will have a Share Capital of Rs 200 million and will employ close to 75 staff during the start off operations in May 2011. TMH India will start its operation with sales & service branches in seven cities including Bangalore, Mumbai, Pune, Chennai etc. The company plans to sell approximately 600 units of Material Handling Equipment Branded Toyota & BT in the year 2011.

TMH India will have its Head Quarters in Delhi which is one of the biggest markets in India.

TICO had developed its Material Handling business from August 2006 under its subsidiary named Kirloskar Toyoda Textile machinery Pvt Ltd (KTTM, Bangalore, India). Toyota was the first foreign Brand to have its fully owned sales & service network in India. KTTM also manufactures Textile Machinery & Auto Transmission parts.

Material handling division of KTTM will be demerged into TMH India. Kirloskar group will be a joint venture partner of this new company.

Following the expansion of Indian economy, Material Handling Equipment market also is expected to grow in India. TMH India aims to increase the market share in India together with development of sales & service network, increase of sales engineers & service technicians and impart knowledge to them.

The demerger of the Material handling division of KTTM into TMH India was under the directions of Toyota Industries Corporation President Ted Toyoda.

 
Related news
More recent
Earlier on
< Prev   Next >

Sponsors

Mazak - The world's largest machine tool builder
JYOTI - India's most dynamic machine builder
TaeguTec - Cost effective tooling solutions
Advertisement

<< SHARE

Social

AD

Subscribe

Subscribe to MACHINIST by Email

Search

 
RSS 1.0
© 2019 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768