Web Page sponsored by Odyssey Corporate Finance
Contact: Tom McCarthy, Director, Odyssey Corporate Finance
M: 07867 459 600
D: 0121 503 2375
10 Nov 15. As Indian Prime Minister Narendra Modi makes the first UK visit in 10 years to sign trade and investment deals of up to £10m, TVS Logistics, part of the £4.6bn India-based business conglomerate, TVS Group, announces that its UK group – TVS Supply Chain Solutions – is to become its knowledge hub for supply chain and the region hub for the whole of Europe. TVS Logistics entered the UK through an acquisition in 2004 and has been growing progressively over the last decade, with revenues in the region of £40m in the first year after the acquisition now standing at a forecasted £274m for this financial year. As part of a consortium with technology company Team Leidos, TVS has won a key contract from the Ministry of Defence providing procurement solutions to the British military’s supply chain. TVS’ role will be pivotal providing data management, inventory management, procurement and product sourcing for the full range of MOD commodities including; food, clothing, pharmaceuticals, medical equipment and general supplies. As part of the contract, worth £5bn over a 13-year period, TVS will introduce improved procurement processes, resulting in reductions in stockholdings and commodity prices as well as a saving of over £500m across the contract period.
In addition to this contract, the company will soon be opening a new 165,000 sq. ft. advanced logistics facility in Barnsley, where it will have its distribution warehouse and call centre. The new facility is expected to create 100 new jobs as the business further expands in the future. The new premises will also give rise to a new logistics and distribution training centre for staff development.
The local authority, Barnsley Metropolitan Borough Council, is supporting this development as a source of jobs for the town and improving its business base.
Using its presence in the UK, TVS logistics is also facilitating its other group companies to invest and collaborate with UK businesses.
Mr R Dinesh, Managing Director of TVS Logistics Services said: “The UK is a highly successful investment destination for TVS Logistics. TVS will continue to make further investments in the UK and will make it the gateway for future growth and expansion for its business in Europe.
We are growing substantially in the UK and we will create another 500 jobs in the next five years as we grow our business here.”
Mr Andrew Jones, CEO of TVS Supply Chain Solutions Europe, commented: “TVS is now entrusted to deliver end to end supply chain solutions to world leading organisations in the Automotive, Defence, Beverage and Utilities sectors. We are very proud to be part of Team Leidos which has been given the great responsibility of helping to transform the UK Ministry of Defence’s logistics commodities and services capabilities. This is an unprecedented step for the MOD and we are determined to live up to the trust placed in us to provide a best-cost procurement solution and the delivery of outstanding levels of customer service excellence to support our troops in training and on front line operational command.”
TVS has made three acquisitions in the UK and operates over 47 locations in the country, with a further four in Ireland and another 84 locations across Europe. Its business is primarily focused on providing supply chain services for clients in sectors such as; defence, industrial, automotive, beverage, technology and utilities.
12 Nov 15. Rolls-Royce warns profits hit by ‘sharply weaker demand’
Shares in Rolls-Royce have tumbled after it warned that “sharply weaker demand” is hitting its profits, forcing the aerospace and marine engineer to review its payout to shareholders and adding to the pressure on one of the UK’s industrial cham