Singapore-based TVS Asianics announced on February 22, 2018, of their acquisition of Pan Asia Logistics that took place at the Grand Hyatt Singapore. This event was attended by high-profile speakers from the High Commission of India to the Republic of Singapore. The acquisition will provide more opportunities for TVS Asianics at the same time making them as one of the fastest-growing integrated transport and logistics networks throughout Asia.
TVS Asianics’ global ocean and air freight forwarding volumes will double through this acquisition. It provides TVS Asianics advanced technology-driven contract logistics and distribution capabilities throughout Asia. Through this acquisition, TVS Asianics’ vertical coverage will be complemented with Pan Asia Logistics’ automotive, electronics and pharmaceutical segments.
TVS Asianics’ Chief Executive Officer James McAdam believes that acquiring Pan Asia Logistics is the ideal decision. He continues to state that both organizations have similar goals; to be global companies’ specialist logistics partner in Asia, and to deliver unparalleled service.
Pan Asia Logistics will keep an excellent service delivery and have the same personalized customer focus. Pan Asia Logistics’ Chief Executive Officer Gerald Tan mentioned that the transaction creates an opportunity for the company to improve the logistics solutions with the latest technologies.
The acquisition is the perfect opportunity for TVS Asianics to expand throughout Asia. This will strengthen their presence. With this acquisition and previous acquisitions done such as the Nadal Forwarding in Spain in 2017, the company will be able to continue growing.