Order for 200 fully-built reefer trucks bagged
In a first of its kind transaction, Tata Motors, along with its Tata Motors Finance Group, has entered into a strategic tie-up with Kool-Ex Cold Chain Ltd., a leading pharma cold chain logistics service provider, to supply 200 fully-built reefer trucks manufactured by Tata Motors.
Developing a unique one-stop solution for Kool-Ex Cold Chain Ltd., this tie-up includes production of the specially built pharma-compliant reefer trucks which will be covered under the Tata Sampoorna Seva umbrella of value-added services and a complete funding plan by the TMF Group with a mixture of equity and debt, making the entire transaction a single window structure. The reefer units used for this deal will be built on the popular Tata LPT 1613 MCV truck and the Tata LPT 2518 multi axle truck.
Said Mr. Shyam Mani, Managing Director, Tata Motors Finance Group: “We are elated to be a part of this one of a kind tie up to provide complete financing solutions to Kool-Ex Cold Chain Ltd. As a part of this tie-up, we will not only be providing vehicle financing through Tata Motors Finance Ltd. (TMFL) but will also provide mezzanine equity financing to the company through Tata Motors Finance Solutions Ltd. (TMFSL), making this a structured financing deal. We are confident that this complete package will deliver the best for all companies that are a part the deal and will lay a strong foundation for a continued association ahead.”
On this occasion, Mr. R.T. Wasan, Head, Marketing & Sales, CVBU, Tata Motors, said: “Tata Motors, as the leading CV player in the industry, continues to work closely with its customers and their clients to develop total solutions for their transportation and logistics requirements. With a sectoral approach, Tata Motors has worked with Kool-Ex to co-develop the fully built reefer unit to meet the sophisticated logistics requirements of the pharma industry due to the anticipated changes in the regulations related to transportation and storage”.
Kool-Ex, which has over 21 years of experience in this segment, is all set to become one of the largest pharma cold chain logistics service providers in the country, with this partnership. Kool-Ex will also shortly enter the cold chain warehousing segment, with its first commercial project likely to come up near Pune along with its foray into last-mile deliveries, thereby making it a completely integrated 3PL cold chain logistics service provider.
Speaking on the tie-up, Mr. Rahul Agarwal, Director, Kool-Ex Cold Chain Ltd., said: “Tata Motors has been an integral part of Kool-Ex story since the beginning of our journey and this fresh order is a testimonial to their smart, customer-friendly and innovative offerings. We are methodically expanding our product portfolios and reinforcing our expertise in various segments, meeting the growing customer requirements. We believe specialized needs of the burgeoning e-commerce and cold chain industry will spawn a range of opportunities for niche organised logistics players in the near future.”
Kool-Ex has been one of the loyal customers of Tata Motors, with over 15 years of association. Through its single window seamless approach, Tata Motors was able to get Kool-Ex as a key customer and offer structured schemes for financing the expansion.