TVS Group subsidiary TVS Automotive Europe Ltd has formed a joint venture with the Euro 160 million Transcoma Group of Spain, TVS Logistics Iberia, S.L., for a range of logistics and supply chain management services in Spain and Portugal.
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Under the new arrangement, the new and the current business of TVS Automotive Europe in the region, with customers such as Hispacold and Irizar who source parts from India, will be transferred to TVS Logistics Iberia. The company targets business of Euro 3.8 million by the end of 2005 rising to Euro 10 million by 2007.
Operations will begin with 20-30 prospective companies in Spain who intend to source components from India through TVS Logistics Iberia. Converting half of these enquiries would place the newly formed company on its sales targets.
The company will provide complete logistics solutions to Tier-I and Tier-II automotive suppliers in the region wanting to source components from India. Also, the company will facilitate Indian customers looking to purchase products from Spain. Services include out & in-bound logistics, in-plant and aftermarket and distribution warehouses along with a testing and quality check facility.
Deepesh Rathore / Tilak Swarup
