Chennai, NFAPost: TVS Supply Chain Solutions Limited, a global supply chain solutions provider and one of the largest and fastest-growing integrated supply chain solutions providers in India, announced the sale of Circle Express, through its UK Subsidiary RICO Logistics, in a move designed to boost the company’s profitability and sharpen its focus on core offerings to its customers.
The decision to divest this asset aligns with TVS SCS commitment to deliver superior value to its shareholders and optimise its business portfolio. By shedding this non-core asset, the company will align its strategic focus and resources with its core business objectives.
The sale was completed for a transactional value of £2.1 million (approx. Rs 21.32 crore).
Commenting on the development, TVS Supply Chain Solutions Ltd Managing Director Ravi Viswanathan said the sale of Circle Express, is an important step as it found very little synergy with the core operations and represents an important step in the company’s efforts to enhance financial performance and sharpen our competitive edge.
“We are confident that this sale will allow us to allocate resources more effectively and focus on driving, sustainable growth and profitability, and thereby increasing shareholder value,” said TVS Supply Chain Solutions Ltd Managing Director Ravi Viswanathan s.
