Toyota Industries to set up new material handling business

Toyota Industries Corporation (Tico) on Thursday announced that it has established a sales company to cater to the specific market of material handling equipments and components in India.

Toyota Material Handling India (TMHI), a fully-owned subsidiary of Japan-based Totoya Industries, will sell material handling equipment in the country through its sales and service network.

The material handling equipment market is growing in India and we want to tap the opportunity. Toyata has a good brand in the automobile sector in the country and we hope to achieve a good reputation in this segment also, TMHI Managing Director Toshiro Ishihara said.

TMHI will begin operations in May 2011 with sales and service branches in seven cities across India. The branches will be increased to 20 from the current seven by the end of 2011, it said.

The company plans to invest 200 million rupees in sales and services.