Modern Materials Handling - November 2012

Lift trucks: From 2009 through2011, the lift truck market grew by41%, making up some of the groundthe industry gave up in the recession.Because of that significant growth, theindustry expects to post 12% growth in2012 and 1% growth for 2013.Conveyors and sortation equipment:Coming off its second strongyear in a row, the market for conveyorsand sorters is looking at 17% to20% growth in shipments for 2012.The industry hasn’t posted a forecastfor 2013, but growth is expected tocontinue at a declining rate.AGVs and AS/RS: Both AGVs andAS/RS posted records sales in 2011,both in terms of actual dollars andnumber of units sold. In the AS/RSindustry, for instance, 2010-2011 willgo down as the longest and largestgrowth period in the industry’s history.For that reason, both productgroups expect negative growth in2012 followed by flat sales in 2013.Given the strong numbers thoseindustries posted in 2011, slightdeclines aren’t bad.Information technology: Themarkets for automatic data captureequipment and supply chain executionsoftware systems that managewarehouses, plants and transportationdepartments remain strong. Supplychain software is expected to growfrom 7.3% to 10.3% depending onthe application; and the overall ADCspace is forecast to grow by 7.5%.LIFT TRUCKSToyota Industries Corporation toacquire CascadeToyota Industries Corp.(TICO) and Cascade Corp.announced that they have enteredinto a definitive agreementunder which TICO willacquire 100% of the shares ofCascade for $65 per share incash in a transaction valuedat $759 million pursuant toa tender offer. The purchaseprice represents a 23% premiumover Cascade’s volumeweightedaverage share pricefor the 60 days ending Oct.19, 2012. The transaction hasbeen unanimously approved by bothcompanies.The transaction will create aglobal materials handling businesswith a wider spectrum of productsand a valuable platform for growth.Based in Japan, TICO is a leadingglobal materials handling, automotive,textile machinery and logisticscompany and a leading manufacturerof lift trucks. Based in Fairview, Ore.,Cascade is a leading internationalCascade is a leading manufacturer of lift truckattachments.manufacturer and distributor ofmaterials handling attachments andreplacement parts for the lift truckand construction industries. Underthe terms of the transaction, Cascadewill become a wholly owned subsidiaryof TICO.Robert C. Warren Jr., presidentand CEO of Cascade, said, “Ourcompany has concluded that the offerbeing made by Toyota IndustriesCorp., one of the world’s most admiredcompanies, represents an idealLogistics community assessesin wake of superstorm SandyMillions who bore the brunt ofsuperstorm Sandy are nowworking to assess the damage andbegin the hard work of rebuilding.As relief agencies work to identifyand assist those hardest hit, theAmerican Logistics Aid Network(ALAN) is connecting communitiesin need with concerned members ofthe supply chain community.“We are in communication withstate, regional, and national VoluntaryOrganizations Active in Disaster(VOADs) as well as emergencymanagement agencies,” said JockMenzies, president of ALAN, a nonprofitorganization that engages thesupply chain community in supportof humanitarian relief efforts. “Weare standing by to provide assistancefor transportation services,staging areas, storage, expert advice,and other vital resources.”To make in-kind donations ofneeded supply chain and logisticsgoods and services, visit alanaid.org/relief-needs.php.combination of attractive return toour shareholders, continuing serviceto our customers, and stability andopportunity for our employees.”“Cascade has a strong reputationfor providing customers with the latesttechnology in materials handlingattachments for lift trucks and iswidely considered to be the innovativeleader with high-quality, customizableproducts,” Tetsuro Toyoda,TICO president and representativedirector, said. “We’ve long knownCascade as a reliable and world-classsupplier to our materials handlingbusiness, and we look forward tobetter meeting our customers’ logisticalneeds by broadening our lifttruck business.”Warren will continue to lead thebusiness after the closing of thetransaction, and it will remain basedout of Fairview.mmh.com MODERN MATERIALS HANDLING / N O V E M B E R 2 0 1 2 11