Toyota announces acquisition of East Chicago-based company
Toyota Industries North America, Inc. announced Wednesday that it has entered into a definitive agreement to acquire the assets of Hoist Liftruck Mfg., LLC. The agreement for the company went into effect Feb. 8th and the new company will be known as Hoist Material Handling, Inc.
Were proud of what weve accomplished in building a terrific brand and quality products, said Hoist Founder Marty Flaska. I am retiring and will no longer be part of the business, but the company is in good hands. Its an honor to hand it off to the industry leader Toyota.
This is the perfect next step in the expansion of our Toyota Heavy Duty line, said Jeff Rufener, President of Toyota Material Handling U.SA. Hoist has been a great manufacturer of heavy-duty equipment for years and brings a group of passionate, talented associates that will help us in our role as a full-line equipment supplier. We are excited about the future of Hoist Material Handling.
The acquisition of Hoist Material Handling adds to Toyotas presence in Indiana. Headquartered in East Chicago, with a 550,000-square-foot factory, Hoist has nearly 25 years of experience manufacturing heavy-duty cushion tire and pneumatic forklifts, reach stackers, container handlers and associated equipment.