Nuts & Bolts
Acquisitions, expansions & other business news
Toyota Material Handling suspends production on IC shipments in U.S. Toyota Material Handling has suspended its LPG and LPG/Gasoline-powered models due to delays in obtaining a U.S. engine emissions certification. The company will continue to manufacture electric, diesel, and heavy-duty forklifts during this suspension. Industry sources say the annual requirement for the emissions certification from the Environmental Protection Agency (EPA) and CARB is why company officials chose to make this announcement. TMH is actively working to resolve this issue and will seek alternative solutions wherever possible. Meanwhile, these models are currently stockpiled at the Columbus, Indiana manufacturing facility until the certification process is resolved. Dealers are informing their customers, adjusting lease extensions, stock inventory, and looking at finding alternative solutions for their clients. www.toyotaforklift.com
OneCharge Inc. opens new facility, tripling manufacturing space OneCharge Lithium Batteries has announced the opening of its new manufacturing facility and company headquarters in Garden Grove, CA. The new building is three times the size of the former company premises. The move is consistent with our growth strategy and is a response to growing market demand for OneCharge lithium batteries. Our evergrowing product line already exceeds 600 batteries for any lift truck make and model. www.onecharge.biz
Alta Equipment Company changes division name on June 1st Effective June 1st, 2021, The Alta Industrial Group has officially migrated its various businesses in the Materials Handling industry into Alta Material Handling. One brand with the focus moving what matters most. Alta is looking forward to working with all of their current 22
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July 2021
customers and moving forward with new ones and the hope of fostering customers for life. They have been operating as one corporation for quite some time and it is wonderful to have all their brands together as one while still holding Alta to the highest standards of customer service and expanding their offerings throughout the country. www.altaequipment.com
ARA forecast shows equipment rental moving from relief to recovery Equipment rental revenue, comprised of the construction/ industrial and general tool segments, is expected to explode past its peak totals in 2022 according to the latest forecast released by the American Rental Association. The updated forecast calls for equipment rental revenue to reach just less than $47.7 billion in 2021, up 3.1 percent after a decline of 9.1 percent in 2020. However, the forecast calls for a robust 12 percent increase in construction/ industrial rental revenue in 2022, taking the combined total for the two segments up to nearly $52.3 billion. The growth rate is expected to be consistent at between two and five percent for the next three years according to the forecast with combined equipment rental revenues reaching $57.5 billion in 2025. www.ararental.org
Provincial Lift Truck acquired by Leavitt Machinery Provincial Lift Truck Inc. has been acquired by Leavitt Machinery based in Surrey, British Columbia. Founded by Chris Glaubitz in 2003, Provincial Lift Truck has grown to become a trusted supplier of material handling equipment in the Kitchener area. The acquisition by Leavitt Machinery, one of North America’s largest material handling equipment dealers, will increase internal infrastructure and resources to allow for future growth within Ontario. www.provincial-lift.com www.leavittmachinery.com
