GREENE – The largest employer and perhaps fastest-growing business in Chenango County, the Raymond Corporation, marks its 85th anniversary in the Village of Greene Saturday.
In 2000, the company brought in $500 million, and it has steadily grown since. In 2006, revenues were $730 million, and 2007 is expected to grow by another $30 million.
“I don’t know, but maybe by 2012, we’ll reach one billion. It depends on the market,” said James J. Malvaso, President and CEO.
Malvaso and Tatsuo Matsuura, president of Toyota Material Handling Group, USA and Executive Vice President of Toyota Industries Corporation, Raymond’s parent corporation, will mark the anniversary milestone and dedicate the 73,000 sq.ft. addition to the existing facility Saturday. Raymond is investing $16 million in the new addition and is continuing to integrate Toyota production systems.
Matsuura will present a globe as a gift to the Raymond Corporation honoring the Raymond-Toyota relationship in celebration of its 85 years of success. “It’s to recognize our expanding global relationships as the company continues to excel in international and domestic markets,” said Raymond Marketing Specialist Charlotte K. O’Dea.
The company employs over 1,000 at its Greene plant alone and over 2,400 worldwide. The Greene facility is 470,000 square feet, including the corporate headquarters, a research and development center and the production plant. The 73,000 sq. foot expansion is designed with the purpose of creating more room for their counterbalance assembly line and paint systems.
The Raymond Corporation was acquired by Toyota Industries in 2000 and is now a member of the Toyota Material Handling Group, the world’s largest lift truck manufacturer with over 11,000 customers worldwide.
The Raymond Corporation is the leading North American provider of materials handling. Products range from a full line of manual and electric pallet trucks and walkie stackers to counterbalanced trucks, reach-fork trucks, orderpickers and more, said the company.
The company is intensely focused on developing hydrogen fuel cells to power its lift trucks and currently has a few prototypes operating on the technology.
“One of the greatest advantages of hydrogen fuels cells, from a business standpoint, is the recharge or refueling period. Most trucks run on electric batteries that require several hours to recharge; a fuel cell draws its power from the hydrogen gas and could be refilled in a matter of several minutes,” said Marketing Communications Director Kevin Trenga.
The dedication ceremony begins at 11 a.m. Saturday in the north parking lot on South Canal Street.
The public is invited to tour the facility from 1 to 3 p.m., and to attend a Raymond truck rodeo. The rodeo will demonstrate the performance and maneuverability of a lift truck, and the skill of the operator. There will be refreshments and activities for all ages in the north parking lot.