Nuts & Bolts
G.N. Johnston Equipment Co. acquires the Econo-Rack Group Inc. G.N. Johnston Equipment Co. Ltd., an authorized Sales and Service Center of The Raymond Corporation, announced it has acquired the assets of The Econo-Rack Group Inc. Econo-Rack became a wholly owned subsidiary of Johnston on Aug. 1, 2015. Econo-Rack is the leading Canadian manufacturer and dealer of racking and related material handling products and services. The company has eight locations, including a 210,000-squarefoot manufacturing facility in Brantford, Ontario. Combined, Johnston and Econo-Rack have more than $400 million in sales and employ 1,150 associates. This acquisition adds value for customers, both current and prospective, through expanded product offerings for diverse application and operational needs,” says Michael Marcotte, president and chief executive officer for Johnston. www.johnstonequipment.com
MHI and Mitsubishi Nichiyu Forklift to acquire UniCarriers Corporation Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Nichiyu Forklift Co., Ltd. have jointly taken the decision to acquire 100% ownership of UniCarriers Corporation by purchasing all shares currently held by Innovation Network Corporation of Japan (INCJ), Hitachi Construction Machinery Co., Ltd., and Nissan Motor Co., Ltd. A contract on the transfer of the shares was concluded today. The transaction, if approved by the relevant authorities, will result in MHI and Mitsubishi Nichiyu Forklift holding respective stakes in UniCarriers of 65% and 35%. MHI, in its new three-year “2015 Business Plan” commencing in the current fiscal year, hoisted the strengthening of its global competitiveness through accelerated business expansion as one of the plan’s core policies. Acquisition of UniCarriers was decided in line with that policy. Mitsubishi Nichiyu Forklift, in its “Best Integration 2017” medium-term business plan that got under way in fiscal 2014, is looking to further strengthen its position in its industry as a leading company on global scale. The decision to acquire UniCarriers constitutes a central part of the company’s business strategies for achieving that goal. In today’s forklift industry, amid intensifying global competition scale expansion is becoming increasingly important for securing profitability. Scale expansion has also become indispensable in the realm of research and development, including new technologies, as the industry increasingly faces the need to respond to global environmental issues. www.unicarriersamericas.com
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October 2015