Toyota Restructures Material Handling Group

March 22, 2010
Toyota Industries Corporation (TICO) is restructuring the management and operations of Toyota Material Handling North America (TMHNA), which includes Toyota Industrial Equipment Manufacturing, Toyota Material Handling USA Inc. and Raymond Corp.

“Today, we are further evolving TMHNA’s capabilities to better leverage the knowledge and expertise throughout our North American companies,” says Tatsuo Matsuura, chairman of the Toyota Material Handling Group. “This step will ensure that Toyota and Raymond customers continue to receive the best products and service in the industry.”

Under the reorganization, TMHNA will be headquartered at the Toyota Industrial Equipment Manufacturing facilities in Columbus, Ind.

In addition, TICO announces the following management appointments, effective April 1, 2010:

* Kazue Sasaki becomes chairman of TMHNA. He continues to serve as president of TIEM and Toyota Industries North America Inc.
* James Malvaso becomes president and chief executive officer of TMHNA and will resign as president and CEO of Raymond.

* Charles Pascarelli becomes president of the Raymond sales division of Raymond, which includes sales, marketing, distribution development and aftermarket services.
* Michael Field becomes president of the operations division of Raymond, which includes manufacturing, quality assurance, engineering and procurement.
* Brett Wood continues to serve as president of Toyota Material Handling USA Inc.

* Ed Rompala becomes chief financial officer for TMHNA and remains chief financial officer for Raymond.
* Hitoshi Matsuoka becomes executive coordinator for TMHNA, and remains executive vice president/treasurer for TMHU.
* Kazuhiro Kurosaka becomes TMHNA coordinator and serves as finance and planning coordinator for Toyota Industrial Equipment Manufacturing.