The acquisition of Vanderlande, manufacturer of logistics transportation systems, by Toyota Industries has been completed. The companies announced today.
Toyota Industries bought Vanderlande in March for €1.16 billion. The Japanese company is said to be using the purchase to enter the goods distribution market. Earlier this month, the European Commission gave the acquisition the green light.
Vanderlande employs some 4,500 people and turns an annual turnover of over EUR 1 billion. Even after the purchase, the company will continue to operate as an independent division from Veghel. Back in March, finance director Herman Molenaar indicated that no jobs would be lost. "Toyota is buying us because our market is growing. Last year we hired seven hundred people. We expect to hire at least five hundred people again next year," Molenaar told NOS Journaal.
Editorial LogistiekProfs
