Toyota Industries Corporation Completes Acquisition of Cascade Corporation

  Toyota Industries Corporation Completes Acquisition of Cascade Corporation

Business Wire

KARIYA, Japan & FAIRVIEW, Ore. -- March 28, 2013

Toyota Industries Corporation (Tokyo Stock Exchange: 6201) (“TICO”) and
Cascade Corporation (NYSE: CASC) (“Cascade”) today announced that TICO has
successfully completed its acquisition of Cascade for $65.00 per share in a
transaction valued at approximately $760 million.

The transaction creates a leading global materials handling business with a
wider spectrum of high-quality and innovative products related to the lift
truck business. While wholly owned, Cascade will continue to be based in
Fairview, Oregon and will operate as an independent subsidiary of TICO.
Cascade’s strict policies on confidentiality regarding competitive information
will remain unchanged. TICO recognizes and respects the importance of this
policy to customers and to the continued success of the business.

TICO completed the acquisition of Cascade through a tender offer and a
short-form merger, without a vote or meeting of Cascade’s shareholders. In the
merger, each outstanding share of Cascade’s common stock not purchased in the
tender offer or otherwise owned by TICO was converted into the right to
receive the same $65.00 consideration that was provided in the tender offer,
less any required withholding taxes and without interest. Cascade’s common
stock will cease to be traded on the NYSE. TICO intends to de-register
Cascade’s common stock as promptly as practicable following the effective time
of the merger.

Nomura Securities is serving as exclusive financial advisor to TICO and White
& Case LLP is serving as 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. For
more information about Cascade Corporation, please visit www.cascorp.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 acquisition of Cascade
Corporation by Toyota Industries Corporation, 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 conditions affecting the
industries in which Toyota Industries Corporation or Cascade Corporation
operate may change. 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.

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130328006138/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50599757&lang=en

Contact:

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