Mitsubishi is paying more than 110 billion yen ($887 million) for UniCarriers Corp – creating the world’s third-biggest producer of forklift trucks.
In a statement on 31st July, Mitsubishi also posted first-quarter results, with net income rising 58 percent to 35.5 billion yen for the three months ended June 30, better than expected – and sales of 931.5 billion yen, up 8.3 percent, handily beat forecasts.
The purchase will produce combined sales of more than 400 billion yen a year. The deal underscores Mitsubishi’s ambition to speed up expansion plans as it vies with manufacturing giants such as General Electric Co. and Siemens AG. President Shunichi Miyanaga is pursuing takeovers and alliances to help boost annual sales to 5 trillion yen by 2018.
The Tokyo-based company will hold a 65 percent stake in UniCarriers while its forklift unit, Mitsubishi Nichiyu Forklift Co., will own 35 percent. Mitsubishi is active across a swathe of industrial sectors, from submarine building to aviation to supplying turbines for power stations.
Welfaux Materials Handling are Mitsubishi Main Dealers for forklift trucks in and around the Home Counties and the Thames Valley. We cover areas including Heathrow and Gatwick as well as Slough, Reading and Newbury.
For a free appraisal of your Materials Handling and Forklift needs contact Andy Bean today on: 0118 978 3838 or email: [email protected] We can show you why Mitsubishi Forklifts can be the best solution for your handling needs.