Toyota Industries Corp (www.toyota-industries.com), a parts-and-assembly division of Japan’s largest car maker, is to acquire Netherlands-based baggage- and parcel-handling-equipment manufacturer Vanderlande Industries Holding BV for 1.16 billion euros to expand its products beyond fork-lifts.

The Kariya-based company looks to complete the acquisition of Vanderlande by the first quarter of 2018, according to a statement. The Dutch business, which recorded about 130 billion yen in net sales last year, has 50 sites globally and 4,500 employees.

Toyota Industries president Akira Onishi has said that the company is also searching for acquisitions that will expand its fork-lift and tractor business.

In March, Toyota Industries acquired Indianapolis-based Bastian Solutions, which develops software to control handling systems at logistics centres.