TVS SCS, Italy’s ALA Group launch aerospace and defence JV; eye ₹2,000 crore revenue

TVS Supply Chain Solutions (TVS SCS) and Italy-based ALA Group have entered into a joint venture to develop an aerospace and defence supply chain platform in India, targeting revenue of ₹2,000 crore over the next three to five years.

Under the arrangement, Chennai-headquartered TVS SCS will hold a 51 per cent stake in the venture, while ALA Group will own the remaining 49 per cent. The partners will begin with an initial investment of €2 million, according to R. Dinesh, Executive Chairman of TVS SCS.

TVS Packaging Solutions Pvt Ltd, a subsidiary of TVS SCS with negligible current operations, will be revived to execute projects under the new venture, company sources said.

A stock exchange filing stated that the proposed investment of around ₹10 crore in TVS Packaging Solutions is aimed at supporting business expansion and facilitating definitive agreements with A.L.A Corporation to tap opportunities in India's growing aerospace and defence sectors.