Toyota Industries North America in Columbus has announced plans to acquire East Chicago-based Hoist Liftruck Manufacturing LLC. Financial terms of the deal are not being disclosed, however Toyota says the new company will be called Hoist Material Handling Inc.
Hoist operates a 550,000-square-foot factory in East Chicago that manufactures heavy-duty cushion tire and pneumatic forklifts, reach stackers, and container handlers, among other products. Hoist Founder Marty Flaska says he is retiring from the company but says it is in "good hands" with Toyota.
The acquisition is the latest development of an existing relationship between Toyota and Hoist, which have had an original equipment manufacturer agreement for the production of large capacity forklifts under the Toyota Heavy Duty brand since 2015.
"This is the perfect next step in the expansion of our Toyota Heavy Duty (THD) line," said Jeff Rufener, president of Toyota Material Handling U.S.A. "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."
Toyota did not state whether any jobs would be affected by the acquisition.
Hoist Material Handling will be led by Vice President and General Manager Dan Kossow, Vice President of Engineering Bob Miller, Vice President of Sales Stu Jacover, and Vice President of Operations Ryan Delaney.