TVS-Asianics buys Singapore company Pan Asia Logistics

​TVS-Asianics Supply Chain Solutions Pte Ltd has gained access to Asian markets with the acquisition of Pan Asia Logistics' freight forwarding and contract logistics businesses.The $160-million Pan Asia Logistics, an integrated logistics company in Singapore, also has a strong presence in Germany. TVS Asianics is a Singapore-based joint venture of TVS Logistics Services Ltd. Announcing the deal at a press conference here, R Dinesh, Managing Director, TVSLSL, and Chairman TVS-Asianics, said the acquisition enables provision of seamless senrice across Asia. Singapore is the ideal base to access the region as it "offers the best ecosystem for growth."Asia-India trade is also poised to increase. Over $100 million in investments have been committed in Singapore to strengthen the Asia business, he said. The company officials, however, declined to disclose the value of the acquisition.