Chennai: TVS Supply Chain Solutions (TVS SCS) and Japan-based logistics and engineering company Sankyu Inc. have signed an agreement to jointly pursue growth opportunities in supply chain and engineering services.As part of the agreement, Sankyu intends to acquire a 0.5% stake in TVS SCS, subject to regulatory approvals.The partnership will combine TVS SCS’s supply chain capabilities, customer base and presence in India with Sankyu’s engineering and logistics expertise and its relationships with Japanese industrial companies, said a statement.The companies will initially focus on India, targeting manufacturing and industrial customers with an expanded range of services covering logistics, warehousing, transportation, engineering, maintenance and on-site industrial support.The partnership could tap into the growing presence of Japanese companies in India. More than 1,400 Japanese companies operate across India’s manufacturing and industrial sectors, providing a potential customer base for the combined offering.R Dinesh, chairman, TVS Supply Chain Solutions said the partnership would strengthen the company’s capabilities and enable it to offer more comprehensive solutions to manufacturing and industrial customers.The two companies plan to explore opportunities in other markets, including Asia, the Middle East and Africa, as well as other global markets where they have an established presence.Sankyu president and CEO Kimihiro Nakamura said the partnership would bring together the strengths of both companies and support their expansion in global markets while contributing to industrial development.A joint steering committee comprising representatives from both companies will be formed to identify business opportunities, oversee strategic initiatives and develop integrated solutions for customers.
