TVS SCS extends contract with Rolls-Royce for 5 years

TVS Supply Chain Solutions Limited (NSE: TVSSCS, BOM: 543965), a global supply chain solutions provider and one of the largest and fastest growing integrated supply chain solutions providers in India, today announced that their contract with Rolls-Royce, a global leader in technology and innovation, has been extended for five years until 2029. The partnership extension is for the state-of-the-art Parts Distribution Centre (PDC) in Singapore serving the Asia Pacific markets for Rolls-Royce's Power Systems business unit. This extension reflects the confidence and trust placed by Rolls-Royce in TVS SCS's service performance and underscores the continued success of the collaborative efforts between the two companies.

"We are delighted to continue our partnership with Rolls-Royce and contribute to the success of their Parts Distribution Centre in Singapore," said Mr. Vittorio Favati, CEO TVS SCS Global Forwarding Solutions. "The renewal of this contract is a testament to the efficiency and reliability of our tailored supply chain solutions. We look forward to further enhancing the operational excellence of the PDC and supporting Rolls-Royce's continued growth in the Asia Pacific region."

Giovanni Spadaro, President, Global Markets Rolls-Royce Power Systems, and Managing Director, Rolls-Royce Solutions Asia, said "The extension of this contract for an additional five years underscores the shared commitment of both companies to achieving strategic objectives and desired outcomes, further solidifying the foundation for continued growth and operational excellence in the region."

The collaborative journey between TVS SCS and Rolls-Royce Power Systems regional center, Rolls-Royce Solutions Asia (formerly known as MTU Asia) began in early 2013 with the mutual goal of enhancing warehouse efficiency and productivity at the PDC through the implementation of an Automated Storage & Retrieval System (ASRS).

In 2014, the project came to fruition with the completion of the state-of-the-art ASRS warehousing system tailored to Rolls-Royce's specific requirements. The facility has since proven its efficacy, significantly contributing to improved overall warehouse productivity and efficiency.

Shares of TVS Supply Chain Solutions Limited was last trading in BSE at Rs. 190.05 as compared to the previous close of Rs. 182.25. The total number of shares traded during the day was 66880 in over 1140 trades.

The stock hit an intraday high of Rs. 193.15 and intraday low of 182.10. The net turnover during the day was Rs. 12461813.00.

Source : Equity Bulls

Keywords

TVSSupplyChainSolutions INE395N01027 LogisticsSolutionProvider Contract RollsRoyce