TVS Logistics forges 2 JV deals in Thailand

TVS Logistics Services, (TVS LSL), part of the TVS group, has forged joint ventures with two firms in Thailand for providing logistics services, T V Sundram Iyengar and Sons said today.

The company has joined hands with Thai Martin Trading and Tyvin International, to form 'TVS Logistics Siam' in Thailand, R Dinesh, executive director,  he added.

The TVS LSL had already established its presence in the UK and European markets and had now ventured into Thailand market for providing logistics services to Thailand's tier-1 and tier-2 companies. By next year, the TVS LSL will be present in the US and Chinese markets.

Dinesh said, "TVS's inherent knowledge of managing supply chain, gained from Indian market, would be put to use in Thailand's auto industry. The TVS Logistics Siam would work on improving the efficiency of these companies in inbound, outbound, warehousing and work initially with four companies for providing these services, and in the first year of operations, Siam would see a turnover of Rs.20 crore".

Dinesh said 'it will facilitate procurement of goods worth Rs 200 crore by Indian companies in its first year of operations and will aim to double this figure soon after".

While Thai Martin group has a turnover of $75 million, the Tyvin International is part of $50 million Thai Malleable group.