TICO which spun off its automaking subsidiary now Toyota Motor Corp in 1937 manufactures lift trucks and other material handling equipment as well as auto plant machinery textile machines and logistics systems It said incorporating Cascade as an independent subsidiary strengthens its range of offerings for the lifttruck market

Toyota Industries Completes Takeover of Cascade

March 28, 2013
$760-million deal Wholly owned, independent subsidiary

Lift-truck manufacturer Toyota Industries Corporation has completed its $760-million takeover of Oregon-based Cascade Corporation, a move it announced last fall with a $65.00/share offer. It closed that offer earlier on Thursday, noting it has accumulated 10.3 million outstanding shares, estimating that to be 92% of the total available.

Cascade Corp., based in Fairview, Ore., manufactures and distributes material handling attachment devices, including clamps, construction attachments, forks and fork positioners, multiple load handlers, rotators, sideshifters, and many more.

It supported the takeover offer when it was announced in 2012, and both companies predicted that their combination would create a “global material handling business.”

Now, Cascade becomes a wholly owned, independent subsidiary of Toyota Industries, known as TICO, which manufactures automotive machinery, textile machines, and logistics systems, as well as lift trucks and other material handling equipment.

“TICO recognizes and respects the importance of this policy to customers and to the continued success of the business,” it stated.

The buyer said the combination of the two organizations creates a company with “a wider spectrum of high-quality and innovative products” for the lift-truck sector.

About the Author

Robert Brooks | Content Director

Robert Brooks has been a business-to-business reporter, writer, editor, and columnist for more than 20 years, specializing in the primary metal and basic manufacturing industries. His work has covered a wide range of topics, including process technology, resource development, material selection, product design, workforce development, and industrial market strategies, among others. Currently, he specializes in subjects related to metal component and product design, development, and manufacturing — including castings, forgings, machined parts, and fabrications.

Brooks is a graduate of Kenyon College (B.A. English, Political Science) and Emory University (M.A. English.)

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