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Mitsubishi Heavy Buys UniCarriers in Challenge to Toyota

A forklift truck manufactured by Mitsubishi Motor Corp. — A forklift truck manufactured by Mitsubishi Motor Corp.
Photographer: Simon Dawson/Bloomberg

By

Masumi Suga and Kiyotaka Matsuda

July 31, 2015, 4:35 AM UTCUpdated onJuly 31, 2015, 6:53 AM UTC

Mitsubishi Heavy Industries Ltd. will pay more than 110 billion yen ($887 million) for UniCarriers Corp., creating the world’s third-biggest producer of forklift trucks.

The purchase, to be financed by cash and loans, will produce combined sales of more than 400 billion yen a year. Toyota Industries Corp., an affiliate of the car company, and Germany’s Kion Group AG are the world’s top forklift makers.