Kathmandu, April 15:

United Traders Syndicate Pvt Ltd (UTS), authorised distributor of Toyota motors in Nepal, celebrated its 40th anniversary yesterday.

UTS was founded in 1967 and is a subsidiary of Vaidya’s Organisation of Industry and Trading Houses (VOITH). “UTS began with a modest business and three employees. It expanded its business to become a conglomerate of dozens of enterprises in manufacturing and trading,” said Dr Bijay Gajananda Vaidya, chairman of VOITH.

He further said that trading of Toyota has been the driving force behind the successful business journey of VOITH, which now has diversified into agro processing, orthodox tea, feed production and animal husbandry as well as technical education. Dr Vaidya also disclosed that the group plans to set up a technical university to meet Nepal’s requirement.

Suraj Vaidya, president UTS said that Toyota vehicles have been a frontrunner in premium and quality automotive segment of Nepali automobile industry. He added that the company plans to increase its market share to 30 per cent by 2015. UTS felicitated the United Nations Office in Nepal and Nepal National Federation of Transport Entrepreneurs for trusting in Toyota brand and using their vehicles in Nepal.

UTS also announced a ‘Toyota Peace Award’ to honour people working for promoting peace, fraternity and socio-economic development in the country.