Toyota to integrate Raymond Corp. under one banner

Toyota Material Handling is formally absorbing the Raymond Corporation, a company it has owned as a separate entity for more than 24 years.

According to the Columbus-based company, the two companies will completely integrate as of April 1st. The two will combine under the Toyota Material Handling banner however, the company also plans to continue to maintain unique brand identities.

One in three forklifts sold in North America is either a Toyota or Raymond product.

Company officials stressed that the move will not lead to layoffs and the combined company plans to invest in its people to accelerate growth. The company also plans to invest $50 million into improvements at its plants in Iowa and New York.

The combined company will be led by Toyota Material Handling North America President & CEO Brett Wood. Toyota Material Handling President & CEO Bill Finerty will be retiring at the end of March. Michael Field, who is the current President & CEO of The Raymond Corporation, will become the joined company’s Chief Operations Officer.

Toyota acquired The Raymond Corporation in 2001.

Photo courtesy of Toyota Material Handling.