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AAL adds to its European agency network
SINGAPORE: April 19, 2018. Breakbulk and project c...

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DFDS to acquire Turkey's U.N. Ro-Ro
COPENHAGEN: April 18, 2018. European short-sea RoR...

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Etihad Cargo supports bustard relocation
ABU DHABI: April 18, 2018. In the past three years...

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New CMA CGM rail link between UK and China
LONDON GATEWAY: April 18, 2018. GB Railfreight, ow...

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Dutch add more short-sea capacity to London
LONDON: April 18, 2018. Dutch-based A2B-online Con...

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Saudia Cargo gets new CEO
JEDDAH, Kingdom of Saudi Arabia: April 17, 2018. F...

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Turkish Cargo to introduce new routes
ISTANBUL: April 17, 2018. Turkish Cargo is to begi...

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South Carolina opens second inland port
DILLON, SC: April 16, 2018. The South Carolina Por...

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North Sea Port reports increase in first combined traffic
GENT, Belgium: April 16, 2018. North Sea Port (NSP...

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AAL adds to its European agency network
DFDS to acquire Turkey's U.N. Ro-Ro
Etihad Cargo supports bustard relocation
New CMA CGM rail link between UK and...
Dutch add more short-sea capacity to London
Saudia Cargo gets new CEO
Turkish Cargo to introduce new routes
South Carolina opens second inland port
North Sea Port reports increase in first combined...

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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.

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