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Toyota Material Handling Europe acquires 100% ownership of Swiss Subsidiary

Toyota Material Handling Europe is acquiring the full ownership of its Switzerland based subsidiary from Emil Frey Group as from today.

Until now, the Swiss organisation has been a joint venture of Emil Frey Group, headquartered in Zurich, and Toyota Material Handing Europe with its headquarters in Sweden.

Emil Frey, a well-established family-based company in Switzerland, has been distributing Toyota vehicles since 1967.

"It was a natural choice to start our journey of material handling business in the Swiss market together with Emil Frey. They know the market, have a solid business network, experience with Toyota brand, and a deep understanding of Japanese, Toyota way of thinking," says Sam Coles, SVP Sales and Chairman of Toyota Material Handling Switzerland.

"The world is changing rapidly, and we are experiencing a humanity challenge right now. Looking at the new normal to come, we all need to be more resilient and be ready for the future, keeping close eyes on the technology development and keep our lean philosophy. We have mutually agreed that we now shall focus on our respective core business moving forward, whilst retaining our partnership we have forged together with our shared customers and operational relationship," comments Sam Coles.

The Swiss company is already fully integrated into TMHE European business strategy, with a strong focus on automation, connectivity and a closer collaboration with customers and business partners.

In 2000, Toyota Industries Corporation acquired BT Industries, and in 2006 the European headquarters of material handling business, Toyota Material Handling Europe was established. In Switzerland, the company, Toyota Material Handling Switzerland, was formed as a 50/50 Joint venture between Toyota Material Handling Europe and Emil Frey, combining Toyota and BT Brands.

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