NYK acquires stake in TM International Logistics

By on Mar 8, 2010

NYK Holding (Europe) has acquired a 26% stake in Kolkata, India-based TM International Logistics

TM International Logistics provides steel-related logistics and harbour operation services, and is a subsidiary of Tata Steel

TMIL was founded in 2002 as a joint venture between Tata Steel (51%) and IQ Martrade Holding & Management (49%), a German company that offers integrated logistics services to steel and related industries

TMIL handles arrangements for the transport of raw materials used to make steel and other products, and also manages related harbour operations for Tata Steel

NYK has been working to strengthen its business activities in India, and established the joint venture Tata NYK Shipping with Tata Steel in 2007 in response to the growing transport of raw materials in India

After the NYK Group's acquisition, TMIL stakeholders will be Tata Steel (51%), NYK Holding Europe (26%) and IQ Martrade Holding & Management (23%)