The Hindu : Business : TVS Logistics' venture with Spanish firm

Online edition of India's National Newspaper
Saturday, Dec 04, 2004

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Business

TVS Logistics' venture with Spanish firm

By Our Staff Correspondent

CHENNAI, DEC. 3. TVS Logistics Services Limited has entered into a joint venture with Transcoma group of Spain. The venture is formed through its U.K. subsidiary, TVS Automotive Europe Limited.

The new company is named as TVS Logistics Iberia- S.L. It will provide total logistics solutions to automotive companies in Spain and Portugal, according to R. Dinesh, Director, TVS Automotive Europe Limited. He said TVS Automotive Europe Limited and Transcoma had entered into 51:49 equity partnership. The initial equity capital of the company would be Rs. 2 crores.

The U.K. subsidiary of the TVS group would act as a `one-stop shop solutions' for buying and selling of components. Further, it would also offer logistics' facilities. This essentially involved managing inputs from multiple sources and ensuring their timely supply to a client. Further, it could also include management of goods from a client's site to the latter's end-user.

Mr. Dinesh told a press conference here today that TVS Logistics Iberia would provide ground support for companies wanting to do business in Spain. This venture would look into companies and clients who wished to optimise costs in inventory and freight forwarding. The cost of logistics in Europe was high at 7 to 10 per cent of the total cost, he said.

The President of Transcoma Group, Jaime Oliver Aymerich, said his group would enable the new joint venture access the Spanish market and to plan and implement customised supply chain models aimed at reducing the total logistics costs for clients.

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