 Mumbai:
TVS Logistics
Services Limited, part of $2.0 billion TVS Group has acquired an 80 per
cent share in CJ Components Limited, a UK-based company. The new company
has since been named as TVS CJ Components Limited and will operate from
Daventry, UK.As
part of its global expansion plans for supply chain and related BPO activities,
TVS has been carefully planning and choosing its overseas partners. TVS
CJC will be a 80:20 firm, with TVS Automotive Europe Limited (subsidiary
of TVS Logistics Services Limited) holding 80 per cent share. Established
in 1989, the family-owned company has been growing steadily in the last
15 years through active support from its clients like Cummins, Case New
Holland (CNH), Delphi, Fermec and McCormick, among others. The original
promoters will retain the remaining 20 per cent shareholding. CJ
Components is in the business of sourcing components for the auto industry,
warehousing and the logistics support-end of the supply chain. It sources
components from India as well as low cost European countries on behalf of
its clients and offers value-added services as well, like packing, kitting,
bar-coding, warehousing, logistics and ''just-in-time'' deliveries. Its sophisticated
warehousing facilities with exclusive testing and inspection facilities
will be of major value to the Indian company. According
to R. Dinesh, director, TVS Logistics Service Limited, "TVS CJC will
act as a gateway for Indian auto component manufacturers to reach out to
their clients in UK. TVS Logistics would provide complete supply chain and
sourcing related support from India and their other overseas ventures". "CJC
is already servicing its UK clients by sourcing from Spain, Italy, Turkey
and India and now its supplier base will be increased by leveraging on TVS''
sourcing capabilities. In India, apart from the TVS group companies, host
of other leading auto component manufacturers who are currently supplying
to Cummins, CNH, Delphi, Perkins etc., in UK market will be focused for
servicing by TVS CJC" said Gillian Jarrett, CEO,TVS CJ Components Limited.
With TVS
CJC in UK, TVS Logistics Iberia in Spain and one more joint-venture planned
in Germany this year, the European operations of TVS Logistics Services
Limited will achieve a turnover
of Rs48 crores in 2005 and targeting Rs100 crore by 2006, in line with the
company''s projections for achieving an overall turnover of Rs500 crores
by 2007.
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