English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

TVS Logistics acquires Transtar

PRESS RELEASE

October 28, 2015: Chennai-based TVS Logistics, part of the Rs 45,600-crore (US$7-bilion) TVS Group, has acquired majority stake in Australian supply chain solutions company Transtar in a Rs 200-crore deal that will expand its presence in Asia and widen the doorway into China.

Although TVS has operational presence in Asian countries in Singapore, Malaysia, and Thailand, this deal will give it deeper access in Australia, and in China owing to Transtar's strong warehousing presence in the country. The company has about 13,000 sq. m of warehousing space across countries in Asia.

TVS Logistics' managing director R Dinesh said the acquisition completes TVS' suite of services with the addition of freight forwarding capabilities. Also, it widens the spread in the South-East Asian nation, considering the fact that its previous acquisitions have been in the West.

Transtar International Freight with an annual revenue of Rs 850 crore (US$130 million) is one of Australia's largest privately owned international logistics companies, with presence in 10 of the top 12 container ports of the world. Over 70 percent of its revenues come from Asian markets. Executed through TVS's Singapore-based JV arm, the deal size of Rs 200 crore includes the price of the majority stake in Transtar and future investments into the company.

This is TVS Logistics' seventh acquisition over the last four years, including key acquisitions of U.S. players such as Michigan-based MESCO and UK's Rico Logistics. The company, with revenues over Rs 4,000 crore, is expected to go for an IPO in the future.

More News

Written on 24/05/2017, 21:40
edelweiss-supported-by-swiss-worldcargoZURICH: May 24, 2017. Edelweiss, the leisure travel subsidiary of Swiss International Air Lines (SWISS), has acquired a second A340-300 from its parent to...
Written on 24/05/2017, 19:10
agility-settles-criminal-case-with-u-s-governmentKUWAIT CITY: May 24, 2017. Agility is to pay a US$551.00 to settle a criminal case relating to its U.S. government food-supply contracts between 2003 and...
Written on 24/05/2017, 17:10
ek-gives-vietnam-a-liftDUBAI: May 23, 2017. Emirates SkyCargo says there's been a "near five-fold" increase in fruit exports from Vietnam to Dubai in the past year. Vietnam's...
Written on 23/05/2017, 22:42
new-box-service-links-the-americasMARSEILLE: May 23, 2017. CMA CGM has launched a weekly 'AZTECA' box service in collaboration with Hamburg Süd to link the west coasts of the United...
Written on 23/05/2017, 20:01
freightweek-news-may-22-26-2017AKAGERA, Rwanda: May 25, 2017. Ten years after the black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 19/05/2017, 22:01
apl-makes-a-profit-for-cma-cgmMARSEILLE: May 19, 2017. CMA CGM has reported a 35.9 percent year-on-year increase in Q1 2017 revenue to US$4.62 billion. The result includes APL figures...
Written on 19/05/2017, 17:41
no-more-need-for-sia-cargoSINGAPORE: May 19, 2017. The Singapore Airlines Group (SIA) has reported a 55.2 percent drop in net profit to S$360.4 million for its 2016/17 financial...
Written on 19/05/2017, 15:01
kalitta-adds-b747-and-b737-freighter-capacityYPSILANTI, MI: May 18, 2017. Air cargo operator Kalitta Air has taken delivery of the first of two leased 747-400F factory-built freighters from GE...
Written on 18/05/2017, 20:24
air-cargo-boom-for-garudaJAKARTA: May 17, 2017. Garuda International has reported a 19.5 percent increase in Q1 2017 cargo revenue to US$56.2 million. Despite a 6.2 percent rise...
Written on 16/05/2017, 15:55
oman-air-signs-sales-agreement-with-globe-air-cargoMUSCAT: May 16, 2017. Following its participation at transport logistic last week, Oman Air Cargo has announced Globe Air Cargo, an ECS Group subsidiary,...
Written on 15/05/2017, 23:20
freightweek-news-may-15-19-2017BIRMINGHAM, UK: May 18, 2017. Emirates SkyCargo has operated a B777 freighter from Birmingham airport in the UK to Chicago as part of a new bespoke...
Written on 15/05/2017, 20:19
saudia-cargo-part-of-record-showcase-at-transport-logisticMUNICH, GERMANY, May 15, 2017: During transport logistic 2017 last week, Saudia Cargo celebrated "Saudi Nights' - an age-old Bedouin tradition "created...
Written on 11/05/2017, 19:09
klm-and-cargonaut-test-smart-data-checkerMUNICH: May 10, 2017. A new smart technology compliance checker developed by Cargonaut to detect data errors in airwaybills is proving successful,...
Written on 11/05/2017, 17:16
maersk-back-on-the-growth-curveCOPENHAGEN: A.P. Møller - Mærsk has reported a Q1 net profit of US$253 million on a five percent increase in year-on-year revenue to US$8.96...
Written on 11/05/2017, 16:21
emirates-group-optimistic-as-profit-fallDUBAI: May 11, 2017. Emirates Group has reported a net profit of US$670 million on revenue of US$25.8 billion for its 2016/2017 fiscal period – a...
Written on 10/05/2017, 19:18
dnata-buys-cold-store-airlogistixDUBAI: May 10, 2017. dnata is to acquire perishables cargo handler AirLogistix USA based at George Bush Intercontinental Airport, Houston. The company's...
Written on 10/05/2017, 17:36
more-flights-capacity-and-hub-services-from-qatar-cargoDOHA: May 10. 2017. Qatar Airways Cargo is to begin a weekly A330 freighter service to London Heathrow on June 03 this year, in addition to its London...
Written on 08/05/2017, 21:38
dhl-opens-stuttgart-rail-centerBONN: May 08, 2017. DHL Global Forwarding has opened a rail competence center in Stuttgart to coordinate its growing rail business between Germany and...
Written on 08/05/2017, 18:57
freightweek-news-from-transport-logistic MUNICH: May 12, 2017. transport logistic reported record attendance this week - over 2,100 exhibitors from 62 countries and 60,000 visitors from...
Written on 05/05/2017, 15:45
atlas-air-off-to-an-exciting-start-in-2017PURCHASE, NY: May 03, 2017. Atlas Air Worldwide Holdings (AAWH) has reported a net loss of US$752,000 on revenue of US$475.4 million for Q1 2017....

- powered by Quickchilli.com -