Unit of Indian conglomerate TVS buys S'pore logistics provider
PAL says acquisition will fund development of cutting-edge logistics solutions and grow the company further
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LOGISTICS service provider TVS Asianics, a unit of Indian automotive conglomerate TVS group, has acquired the freight forwarding and contract logistics businesses of Singapore company Pan Asia Logistics (PAL).
But the local holistic logistics provider's other operating subsidiaries, industrial real-estate development Pan Asia Logistics Investments (PALI) and niche logistics product Panalogs Projects, are not part of the deal, and will continue to be independently managed by founders German-born Christian Bischoff and Susan Tan.
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