To increase its presence in the Asian markets, TVS logistics, head-quartered in Chennai, has taken a majority stake in Australia-based Transtar through its Joint Venture in Singapore-TVS Asianics Supply Chain Solutions. This is expected to increase TVS Logistics presence in countries like Singapore, Thailand, China and also marks it entry into Australia. Transtar with annual revenue of Rs 850 crore has a warehouse capacity of 13,000 plus pallets in Australia and New Zealand.
R Dinesh, Managing Director, TVS Logistics Services pointed to the acquisition to strengthen their capabilities in freight forwarding across the regions. In a turnover of around Rs 4000 crore last year, 60 per cent comes from International operations. Dinesh pointed to automobiles contributing to less than 35 per cent of their services. James McAdam, CEO and Partner, TVS Asianics Supply Chain Solutions, pointed to the increasing focus on the Asian market which is on growth mode and the acquisition will help serve the growth.