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Kirloskar Toyoda signs agreement with Toyota Ind.
BANGALORE:
Kirloskar Toyoda Textile Machinery (KTTM) has signed a distribution agreement with Toyota Industries Corporation for sales and service of material handling equipment (forklifts) in India and is expecting to reach 20 per cent market share by 2010. Announcing this here on Tuesday, KTTM Managing Director and Chief Operating Officer, T. Parabrahman, said that the forklift business in India was growing at 30 per cent, thanks to the boom in shipping and airline sectors. Presently, about 4,000 forklifts from different manufacturers worldwide. are sold in India. Vikram Kirloskar, Director and Mentor, KTTM said "the distribution agreement has come at a time when India is on the path to becoming a manufacturing hub for the global markets and is significant to us, as KTTM celebrates its 10th anniversary."
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