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Indices down 0.5% as rupee breaches 56 markMay 23 2012 16:25
Toyota Industries sets up new sales company in India
MUMBAI (makemystocks): Toyota Industries Corp has set up a sales company in India to expand sales in material handling market.
The new company, Toyota Material Handling India Pvt Ltd, headquartered in Delhi will have a share capital of Rs 200 million, Toyota Industries said in a release Thursday.
Toyota Material Handling will begin operation in May with sales and service branches in seven cities including Bangalore, Mumbai, Pune and Chennai, the Japanese automaker said in the release.
The company will have 75 staff members and plans to have sales of 600 units in 2011. Kirloskar group will be a joint venture partner of the new company.
Toyota Industries has another material handling business under its subsidiary, Kirloskar Toyoda Textile Machinery Pvt Ltd, which also manufactures textile machinery and auto transmission parts.
The new company, Toyota Material Handling India Pvt Ltd, headquartered in Delhi will have a share capital of Rs 200 million, Toyota Industries said in a release Thursday.
Toyota Material Handling will begin operation in May with sales and service branches in seven cities including Bangalore, Mumbai, Pune and Chennai, the Japanese automaker said in the release.
The company will have 75 staff members and plans to have sales of 600 units in 2011. Kirloskar group will be a joint venture partner of the new company.
Toyota Industries has another material handling business under its subsidiary, Kirloskar Toyoda Textile Machinery Pvt Ltd, which also manufactures textile machinery and auto transmission parts.
