TVS SCS, Sankyu to collaborate for supply chain-engg services

CHENNAI: TVS Supply Chain Solutions on Monday said it has signed an initial pact with Japan-based Sankyu Inc to collaborate across supply chain and engineering services.

As part of the memorandum of understanding (MoU), Sankyu intends to acquire a 0.5% stake in TVS Supply Chain Solutions (TVS SCS), subject to customary regulatory approvals.

Under the partnership, the companies will explore opportunities to deliver enhanced value through a broader portfolio of solutions spanning logistics, warehousing, transportation, engineering services, maintenance and on-site industrial support.

The collaboration will initially focus on opportunities in India, where both companies see significant potential to support manufacturing and industrial customers through a broader range of supply chain and engineering services, TVS SCS said in a statement.

Over time, the collaboration is expected to expand into other markets across Asia, the Middle East and Africa, leveraging the combined capabilities of both organisations. The companies will also explore opportunities in other global markets where both have an established presence, leveraging each other’s capabilities to create additional value for customers.

R Dinesh, chairman, TVS Supply Chain Solutions, “Sankyu’s engineering expertise and deep relationships across the Japanese industrial ecosystem complement TVS Supply Chain Solutions’ integrated supply chain capabilities, strong customer relationships and market presence.”

Kimihiro Nakamura, president-CEO, Sankyu Inc, said, “Since our inception in 1918, Sankyu has been dedicated to supporting the progress of the manufacturing sector, underpinned by our core philosophy of valuing our people. Our two companies possess a strong strategic alignment, we look forward to achieving collective growth in the global market.”