Business at The Raymond Corporation is picking up, literally. The company manufactures electric material-handling equipment, including fork lifts, pallet trucks, stackers, and sideloaders. In addition to grocery distributors and home improvement stores (its core customers), Raymond also supplies the medical/pharmaceutical, department store, and retail furniture and computer industries, among others. The company, a subsidiary of Toyota Industries, provides driver training, and rents and leases its products in addition to selling them. Raymond's parts division stocks some 100,000 parts, a number of which are branded RayBuilt products.
Raymond's fleet management program helps companies get a handle on the life-cycle costs of a lift-truck fleet. The front-end price of a lift-truck constitutes a little over 10% of the total cost of ownership over a five-year period. Driver training, maintenance, energy, and other aftermarket costs represent an additional 80% in cost. Raymond offers comprehensive fleet analysis, as well as other basic services including maintenance agreements, discounted parts and labor rates, and fleet leasing. Using a vehicle management system device, Raymond can monitor the performance of a truck on the other side of the continent.
Raymond's plan for growth is to maintain a strong manufacturing presence in the US. This strategy includes investing in its facilities and introducing new products and equipment based on strong customer demand and market performance.
Raymond is also taking advantage of the latest alternative battery technology for material handling -- the GenDrive -- which is manufactured by Plug Power, a clean energy developer. In 2010 Raymond entered a deal making it not only an independent distributor for the sale, rental, and lease of GenDrive products in the US, but also as an authorized service provider. The GenDrive, which provides constant voltage, is an alternative to lead-acid batteries and will extend energy cost savings to customers.
The company was started in 1922 as Lyon Iron Works. A pioneer in the fork truck industry, it introduced the first hydraulic hand pallet truck in 1930 and the first narrow-aisle lift truck in 1951. It was acquired by Toyota Industries Corporation in 2000. Raymond Corp. is part of the Toyota Industries' Materials Handling Group, which is partly owned by Toyota Motor Corp. – less