IRVINE, Calif.,--FORTUNE magazine has named Toyota Industries Corporation (TICO) to its top 50 list of the "World's Most Admired Companies" for the third consecutive year.
TICO, which is comprised of four key business units-automobiles, material handling equipment, textile machinery and logistics solutions-is ranked as the 31st most admired company in the world. TICO achieved an additional honor, earning a top-five spot in the motor vehicle parts industry ranking, also for the third consecutive year.
TOYOTA is the world's leading supplier of lift trucks. The majority of lift trucks sold in the United States by TICO's subsidiary, Toyota Material Handling, U.S.A., Inc. (TMHU) are manufactured at the Toyota Industrial Equipment Manufacturing (TIEM) Columbus, Ind., plant.
"It is quite an honor to be admired in this competitive industry once again," said Shankar Basu, president and CEO of TMHU. "Our team of associates and dealers work diligently to be recognized with such achievement. TOYOTA will continue to excel and work towards innovative ideas that will keep the company and its products improving our customers' businesses."
Toyota Motor Corporation (TMC) also was featured in the FORTUNE survey, ranking third on the "World's Most Admired Companies" list. The FORTUNE most admired category is compiled into a global all-star list and 27 industry sectors list. The Hay Group compiled the list, beginning with FORTUNE Global 500 and companies that have revenues in excess of $10 billion. A total of 358 companies in 27 industries were surveyed, and business leaders in their own industries were asked to rate companies on nine different attributes from investment value to social responsibility. TICO received the top ranking for social responsibility, financial soundness and long-term investment, and ranked second in the areas of people management and use of corporate assets.