TVS Supply Chain Solutions extends contract with Rolls-Royce for 5 years

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TVS Supply Chain Solutions Limited, a global supply chain solutions provider, announced on February 20 that its contract with Rolls-Royce, a global leader in technology and innovation, has been extended for five years until 2029.

The extension of the partnership pertains to the advanced Parts Distribution Centre (PDC) located in Singapore, which serves the Asia Pacific markets for Rolls-Royce's Power Systems business unit.

"We are delighted to continue our partnership with Rolls-Royce and contribute to the success of their Parts Distribution Centre in Singapore," said Vittorio Favati, CEO TVS SCS Global Forwarding Solutions.

"The renewal of this contract is a testament to the efficiency and reliability of our tailoredsupply 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."

At 3:18 pm, TVS Supply Chain shares were trading over 3 percent higher at Rs 196.80 on the National Stock Exchange (NSE).

TVS Supply Chain Solutions, a subsidiary of the Chennai-based TVS Group, went public in August and has seen its integrated supply chain business grow and perform.

Company's executive chairman R Dinesh told CNBC-TV18 in a recent interview that escalated freight and insurance costs may well be here to stay even as freight forwarders continue to explore alternatives to the crisis-hit Red Sea shipping route.