Breaking News

Shooting Reported at High School Near Seattle
Tweet TWEET

Toyota Industries Corporation Announces Certification of Substantial Compliance and Extension of Cash Tender Offer for Shares of

  Toyota Industries Corporation Announces Certification of Substantial
  Compliance and Extension of Cash Tender Offer for Shares of Cascade
  Corporation

Business Wire

KARIYA, Japan -- February 28, 2013

Toyota Industries Corporation (Tokyo Stock Exchange: 6201) (“TICO”) today
announced that Industrial Components and Attachments II, Inc., an indirect
wholly owned subsidiary of TICO, has extended its tender offer for all
outstanding common shares of Cascade Corporation (NYSE: CASC) (“Cascade”) for
$65.00 per share (the “Offer”). The Offer was scheduled to expire at 12:00
midnight, New York City time, on Thursday, February 28, 2013. With the consent
of Cascade, the Offer has been extended to expire at 12:00 midnight, New York
City time, on Thursday, March 21, 2013, unless further extended. All other
terms and conditions of the Offer remain unchanged.

As previously announced, TICO received a Request for Additional Information
and Documentary Material (the “Second Request”) from the Antitrust Division of
the Department of Justice (the “Antitrust Division”) with respect to the
Offer. On February 15, 2013, TICO certified to the Antitrust Division
substantial compliance with the Second Request. Additionally, TICO provided a
timing commitment to the Antitrust Division pursuant to which TICO committed
not to close the transaction prior to 30 days thereafter without the consent
of the Antitrust Division and to provide at least 10 days notice to the
Antitrust Division prior to consummating the acquisition of Cascade. Cascade
informed TICO that it also received a Request for Additional Information and
Documentary Material from the Antitrust Division and that it is currently in
the process of responding to such request and intends to cooperate with the
Antitrust Division with respect to such request. TICO expects to continue to
work cooperatively with the Antitrust Division as it completes its review of
the proposed transaction in order to respond to and resolve expeditiously any
questions the Antitrust Division may have. The Offer is now scheduled to
expire at 12:00 midnight, New York City time, on Thursday, March 21, 2013. The
transaction is expected to be completed immediately upon receiving regulatory
approval from the Antitrust Division.

Computershare Trust Company, N.A., the depositary for the Offer, has advised
TICO that, as of 5:00 p.m., New York City time, on February 28, 2013,
9,990,707 shares of common stock of Cascade had been validly tendered and not
properly withdrawn in the Offer (including 486,973 shares tendered pursuant to
notices of guaranteed delivery), representing approximately 89.2% of Cascade’s
outstanding shares. Shareholders who have already tendered their shares of
common stock of Cascade do not have to re-tender their shares or take any
other action as a result of the extension of the expiration date of the Offer.

Nomura Securities is serving as exclusive financial advisor to TICO and White
& Case LLP is serving as TICO’s legal advisor in connection with the
transaction. BofA Merrill Lynch is serving as exclusive financial advisor to
Cascade, and Miller Nash LLP is serving as Cascade's legal advisor.

About Toyota Industries Corporation

Toyota Industries Corporation is a leading transportation equipment company
engaged primarily in the manufacture and sale of automobiles, materials
handling equipment and textile machinery, as well as in the logistics business
in Japan and internationally. Toyota Industries Corporation’s common stock is
listed on the Tokyo Stock Exchange where it trades under the symbol “6201”.
For more information about Toyota Industries Corporation, please visit
www.toyota-industries.com.

About Cascade Corporation

Cascade Corporation is one of the world’s leading manufacturers of materials
handling load engagement devices and related replacement parts, primarily for
the lift truck industry and to a lesser extent, the construction industry.
Cascade Corporation’s common stock is listed on the New York Stock Exchange
where it trades under the symbol “CASC”. For more information about Cascade
Corporation, please visit www.cascorp.com.

Additional Information

This release is for informational purposes only and is neither an offer to
purchase, nor a solicitation of an offer to sell, any securities. Toyota
Industries Corporation has caused its wholly owned subsidiary, Industrial
Components and Attachments II, Inc., to file with the SEC a Tender Offer
Statement on Schedule TO (including an offer to purchase, forms of letter of
transmittal and related tender offer documents, which has been mailed to
Cascade Corporation shareholders). Any offers to purchase or solicitations of
offers to sell shares of Cascade Corporation Common Stock are made only
pursuant to such Tender Offer Statement. Investors and Cascade Corporation
shareholders are strongly advised to read, before they make any decision with
respect to the tender offer, the Tender Offer Statement and the related
solicitation/recommendation statement on Schedule 14D-9 that has been filed by
Cascade Corporation with the SEC and mailed to its shareholders, because they
contain important information about Toyota Industries Corporation, Cascade
Corporation, the tender offer, including the various terms of, and conditions
to, the tender offer, and other related matters. These documents are available
at no charge on the SEC’s website at www.sec.gov. A copy of the Tender Offer
Statement and related tender offer documents (once they become available) may
be obtained free of charge by directing a request to Toyota Industries
Corporation, c/o MORROW & CO., LLC, 470 West Avenue, Stamford, Connecticut
06902 or by calling toll-free 800-662-5200 or emailing info@morrowco.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the U.S. federal securities laws. These forward-looking statements include,
but are not limited to, statements as to the proposed acquisition of Cascade
Corporation by Toyota Industries Corporation, the anticipated timing of
filings and approvals relating to the transaction, the expected timetable for
commencing the tender offer and completing the transaction, expected long-term
growth for the combined company, plans for geographic expansion in the global
marketplace and any other statements about Toyota Industries Corporation or
Cascade Corporation’s managements’ future expectations, beliefs, goals, plans
or prospects. Any statements that are not statements of historical fact
(including any statements containing the words “believes,” “plans,”
“anticipates,” “expects,” “estimates,” and similar expressions) should also be
considered forward-looking statements. Readers are cautioned that all
forward-looking statements are based on current expectations and involve risks
and uncertainties and a number of factors could cause our actual results to
differ materially from any results indicated in this release or in any other
forward-looking statements made by us, or on our behalf. Factors that could
cause actual results to differ from these forward-looking statements include,
but are not limited to, the possibility that certain conditions to the offer
and the merger and to completion of the transactions will not be met, the
possibility that competing offers may be made, conditions affecting the
industries in which Toyota Industries Corporation or Cascade Corporation
operate may change, Toyota Industries Corporation may not be able to
successfully integrate Cascade Corporation’s operations and employees. The
forward-looking statements contained in this release speak only as of the date
on which they are made and, except as required by law, Toyota Industries
Corporation expresses no intention or undertake no obligation to update any
forward-looking statements to reflect events or circumstances after the date
of this press release and as a result, no undue reliance should be placed on
these forward-looking statements.

Contact:

Toyota Industries Corporation:
TICO
Takashi Yoshida, +81 566-27-5157
Manager, PR Department
or
Brunswick Group
Sarah Lubman / Monika Driscoll
+1 212-333-3810
or
Cascade Corporation:
Joseph G. Pointer, +1 503-669-6300
Chief Financial Officer
 
Press spacebar to pause and continue. Press esc to stop.