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TVS Logistics now has access to a wider client base in Europe and the UK company gains access to manufacturers in India and components suppliers here reach clients in Europe.

Chennai , Feb. 23

TVS Logistics Services Ltd has acquired the UK-based CJ Components Ltd through its subsidiary TVS Automotive Europe Ltd.

TVS Automotive Europe has acquired an 80 per cent stake in CJ Components, a family-owned company offering services such as components sourcing, supply chain management, warehousing and logistics support. Following the acquisition, the new company, TVS CJ Components Ltd, will operate out of Daventry, UK.

Announcing the acquisition here today, Mr R. Dinesh, Executive Director, T.V. Sundram Iyengar & Sons Ltd, said that the new company will drive TVS's business plans in Europe, which in the short term includes expanding into Germany.

TVS Logistics now has access to a wider client base in Europe and the UK company gains access to manufacturers in India and components suppliers herereach clients in Europe. Clients in hand and new ones, such as JCB, Lister Petter, an engine manufacturer, Perkins and Land Rover, with whom discussions are at an advanced stage, will contribute to the company's growth plans, he said. The tie-up with the UK company will also help TVS Logistics realise its ambition of becoming an end-to-end provider of logistics services. While declining to name the customer, Mr Dinesh said that discussions are afoot to manage a leading manufacturer's entire supply chain. An announcement may be expected in the coming the weeks, he said.

With TVS CJC in UK, TVS Logistics Iberia in Spain and another such joint venture planned in Germany, its European business is set to touch Rs 50 crore this year and double in the coming year, he said. The company is targeting a turnover of Rs 500 crore in 2006-07, he added.

CJ Components business activities also include value-added services such as packing and kitting, barcoding, warehousing, logistics, Just-in-time deliveries. Its promoter, Mr Clive Jarrett, said that the company's clients include Cummins, Case New Holland and McCormick. India has emerged a low-cost supplier of components of international quality and the joint venture would benefit by better exploiting the business opportunity.

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