Toyota Material Handling, Raymond Corp. set to merge
Brett Wood named CEO of Toyota Material Handling North America
Equipment manufacturers Toyota Material Handling and The Raymond Corp. will merge under the name Toyota Material Handling North America, effective April 1.
The unified company will continue to operate the Toyota and Raymond brands separately, maintaining their respective dealer networks while combining operations at the corporate level, according to a Jan. 8 Raymond release.
Parent company Toyota Industries acquired Raymond in 2000. The integration aims to improve efficiency and better leverage the strengths of both organizations to serve customers across North America.
Brett Wood, who is a senior executive officer at Toyota Industries, will lead Toyota Material Handling North America as president and chief executive. Raymond President and CEO Michael Field will become chief operating officer of the combined entity. Bill Finerty, current president and CEO of Toyota Material Handling, will retire at the end of March.
Toyota and Raymond together account for roughly one-third of forklifts sold in North America, according to the release.
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