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Logistics
NYK purchases stake in Tata Logistics arm
Date:2010-03-11 Readers:
NYK Holdings, a wholly-owned subsidiary of NYK, recently acquired a 26 per cent stake in TM International Logistics (TMILL), a subsidiary of India's largest steelmaker, Tata Steel.
Founded in 2002 as a joint venture between Tata Steel and Germany's IQ Martrade, TMILL specialises in the provision of steel-related logistics and harbour operation services.
The acquisition marks NYK's latest bid in its on-going effort to strengthen its position in the India. In 2007 the company established Tata NYK Shipping Pty Ltd a joint venture with Tata designed to tap the growing demand for transportation of raw materials, both in and out of the sub-continent.
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