Big changes are redefining the material handling industry. On January 9, 2025, Toyota Industries Corporation announced a transformative plan to unite two of its leading companies, Toyota Material Handling and The Raymond Corporation, into a single powerhouse organization. This newly formed entity, Toyota Material Handling North America, will officially launch on April 1, 2025. The merger marks an exciting chapter for the industry, promising innovation, growth, and long-term value for employees, customers, and partners.

The merger aims to harness the collective strengths of the two companies—bringing together their expertise, resources, and cutting-edge technologies. Brett Wood, current President and CEO of Toyota Material Handling North America, explained the company’s vision: “By uniting the best people, processes, and products, we’re positioning ourselves to meet the demands of a rapidly evolving market and become the **undisputed industry leader.**”

What makes this move particularly strategic is that both Toyota Material Handling and The Raymond Corp. will maintain their distinct branding during and after the integration. This decision underscores a respect for each organization’s unique market identity while they work towards shared goals.

The merger also comes with notable leadership transitions. Bill Finerty, current President and CEO of Toyota Material Handling, will retire at the end of March 2025. Michael Field, presently leading The Raymond Corp., will step into the role of Chief Operating Officer (COO) for Toyota Material Handling North America. Along with Brett Wood, Field’s leadership is expected to drive the strategic alignment and success of this new venture.

One of the most commendable aspects of this merger is Toyota’s commitment to its workforce. With over 16,000 employees spread across key U.S. regions—including Columbus, Indiana; Greene, New York; East Chicago, Indiana; and Muscatine, Iowa—the company has guaranteed there will be **no layoffs** throughout the integration process.

In addition to protecting jobs, Toyota is doubling down on investing in its workforce. “Our vision is to create a dynamic, resilient company where our people are empowered to thrive,” said Wood, reaffirming the company’s priority to nurture its talent pool as a foundation for future success.

The collaboration between Toyota Material Handling and The Raymond Corp. isn’t just about operational efficiency—it’s about innovation. To that end, Toyota is making significant investments in its Columbus, Indiana operations, which serve as its North American headquarters. A nearly **$100 million investment** will go towards constructing a state-of-the-art, 295,000-square-foot factory focused on electric-powered material handling equipment.

This facility, expected to open in 2026, will bring **85 new jobs** to the area while solidifying Toyota’s position as a leader in the green, electric-powered equipment market. Already capable of producing over 1,900 forklifts per week, the company is poised to scale further, offering a wider range of cutting-edge solutions, including electric terminal tractors, pallet jacks, stackers, and container handlers.

### **Redefining Industry Standards**
As a unified organization, Toyota Material Handling North America is setting the stage to lead the material handling sector into the future. By combining the capabilities of Toyota Material Handling and The Raymond Corp., the new company will meet increasing customer demands for more customized, efficient, and technologically advanced solutions.

This merger is not just a corporate restructuring—it’s a bold vision for reshaping the material handling landscape. As Brett Wood emphasized, the unified company aims not only to adapt to industry changes but to proactively shape the future.

### **The Road Ahead**
For employees, customers, and business partners, this merger represents progress and opportunity. By fostering collaboration and continually pushing boundaries, Toyota Material Handling North America is poised to become the go-to partner for businesses navigating the demands of an ever-changing market.

As Toyota Material Handling North America looks to the future, one thing is certain: the merger signals more than growth. It sets the stage for innovation, leadership, and reshaping what’s possible in material handling.

Stay tuned to see how this newly unified leader continues to drive transformational change in the industry.