TVS Supply Chain shares surged 8% in the afternoon trade of February 20, after company extends contract with Rolls Royce for 5 years for distribution of parts in Singapore.
In a significant development, TVS Supply Chain Solutions Limited (TVS SCS), a prominent global supply chain solutions provider, has extended its contract with Rolls-Royce, a global leader in technology and innovation, for a duration of five years until 2029. The extended partnership pertains to the operation of the state-of-the-art Parts Distribution Centre (PDC) located in Singapore, which serves the Asia Pacific markets for Rolls-Royce’s Power Systems business unit.
Mr. Vittorio Favati, CEO of TVS SCS Global Forwarding Solutions, expressed his delight at the continuation of the partnership, emphasizing the efficiency and reliability of TVS SCS’s tailored supply chain solutions. He highlighted the company’s commitment to contributing to the success of Rolls-Royce’s Parts Distribution Centre in Singapore and supporting its growth in the Asia Pacific region.
Giovanni Spadaro, President of Global Markets at Rolls-Royce Power Systems and Managing Director of Rolls-Royce Solutions Asia, echoed the sentiment of shared commitment, emphasizing the strategic objectives and desired outcomes of both companies. He underscored the foundation laid for continued growth and operational excellence in the region through the extension of the contract.
The collaborative journey between TVS SCS and Rolls-Royce Power Systems began in early 2013 with the goal of enhancing warehouse efficiency and productivity at the PDC through the implementation of an Automated Storage & Retrieval System (ASRS). The fruition of this project in 2014 resulted in the completion of a state-of-the-art ASRS warehousing system tailored to Rolls-Royce’s specific requirements, significantly contributing to improved overall warehouse productivity and efficiency.
As of 3:05 pm, TVS Supply Chain Solutions’ shares were trading 6.08% higher at ₹201.60, reflecting the positive market sentiment surrounding the contract extension with Rolls-Royce and the company’s continued growth trajectory.
