MHI to Restructure Forklift Truck Production in Europe

The planned restructuring is MHI's response to Europe's lackluster forklift market stemming from the deepening debt crisis in the eurozone and other factors. MCFE will continue to function as regional headquarters of MHI's forklift truck business in Europe and also continue handling of regional business management, marketing, sales and servicing. Rocla, a manufacturer of electric warehouse trucks and automated guided vehicles, will expand its product portfolio through the addition of a lineup of battery-powered forklift trucks - the mainstream of the European market - and pursue enhanced competitiveness through scale merit.

MCFE, a joint venture established in 1992, manufactures both engine-powered and battery-powered small-sized forklift trucks for marketing in Europe, the CIS, Africa and the Middle East. Rocla, a manufacturer of electric warehouse trucks, which was established in 1942, was acquired by MCFE in 2008.

MHI currently conducts business in forklift trucks and material handling equipment through five production bases in Japan, the U.S., Europe and China: the General Machinery & Special Vehicles Sagamihara Machinery Works in Kanagawa, Japan, which manages and oversees all activities of this business segment; Mitsubishi Caterpillar Forklift America, Inc. (MCFA) in Houston, Texas; MCFE in Almere, the Netherlands; Mitsubishi Heavy Industries Forklift (Dalian) Co., Ltd. (MFD) in Dalian, China; and Rocla in Jarvenpaa, Finland. The collective production capacity in forklift trucks and material handling vehicles now exceeds 75,000 units per year.

Through restructuring of its European production, MHI looks to evade foreign exchange risk and realize production flexibility while maintaining a structure enabling swift response to customer needs worldwide, in a quest to expand its share in the global forklift truck market.