MHI Acquires Daily Equipment Company, U.S. Forklift Sales & Service Dealer
- Move Undertaken to Strengthen Service Operations in North America through
Direct Sales Network Expansion -
Tokyo, Jan 8, 2013 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI)
has completed the acquisition of Daily Equipment Company (DE), an American
forklift truck sales and service dealer based in Jackson, Mississippi. The move
is targeted at strengthening MHI's service operations in North America, a
core market for the company's forklift trucks and other logistics
equipment, by expanding its direct sales network with close ties to local
customers. The acquisition of DE was carried out through MHI's local
forklift production and sales subsidiary: Mitsubishi Caterpillar Forklift
America Inc. (MCFA), which is based in Houston, Texas.
DE was established in 1985 and has approximately 160 employees. From its
headquarters in Jackson, Mississippi, the company maintains six sales bases in
that state and neighboring Louisiana. DE sells forklift trucks and other
logistics equipment including the three product brands handled by MCFA:
Mitsubishi forklift trucks, Cat(R) lift trucks and Jungheinrich(R). After this
acquisition, MHI plans to expand DE's sales of forklifts, parts and
service while keeping DE's management unchanged.
The acquisition expands MHI's direct sales network supporting the
customer-oriented business model in the North American market. It will also
create efficiencies with MCFA's other factory owned dealers in North
In its Medium-Term Business Plan (2012 Business Plan) launched this year, MHI
is looking to fortify its earnings base in forklift truck operations by
implementing two core policies: reorganizing its global production structure
and strengthening its service operations. Production and business restructuring
processes are already under way mainly in Japan and Europe, and now with the
fortification of its service operations in the core North American market, the
company will accelerate its initiative to further expand its global share
within the forklift truck market, targeting sales of 250 billion yen in the
fiscal year 2014 (ending March 31, 2015).
About Mitsubishi Heavy Industries
Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one
of the world's leading heavy machinery manufacturers, with consolidated
sales of 2,820.9 billion yen in fiscal 2011, the year ended March 31, 2012.
MHI's diverse lineup of products and services encompasses shipbuilding,
power plants, chemical plants, environmental equipment, steel structures,
industrial and general machinery, aircraft, space rocketry and air-conditioning
systems. For more information, please visit the MHI website at www.mhi.co.jp.
Mitsubishi Heavy Industries
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