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Be the first with the news that moves the market- METRO (TSX:MRU) is set to invest C$420 million in a new automated distribution centre in Terrebonne, Quebec
- A portion of the funds will also go towards the expansion of its produce and dairy distribution centre in Laval
- The company has signed a construction agreement with WITRON, which is already working on METRO’s other projects in Ontario
- The Terrebonne centre will open in 2023, while expansion of the Laval centre will be completed in 2024
- METRO (MRU) shares are currently down 1.53 per cent to $55.31, with a market cap of $14.02 billion
METRO (TSX:MRU) is set to invest C$420 million in a new automated distribution centre in Terrebonne, Quebec.
As part of the five-year plan, a portion of the funds will also go towards the expansion of the company’s produce and dairy distribution centre in Laval. An additional 50,000 square feet will be added to accomodate an increased volume of fruits and vegetables.
METRO says that the planned investment will enable the company to better meet the expectations of both current and future customers.
“Our new distribution centre of more than 600,000 square feet in Terrebonne will feature state of the art technologies, allowing us to make significant efficiency gains,” said METRO’s President and CEO, Eric La Flèche.
“We will improve service to our store network with increased accuracy and reduced handling time, in both the distribution centres and the stores.
“For consumers, these new facilities will result in even more variety and freshness. We will be in an excellent position to pursue our growth in Quebec,” he added.
The company has signed an agreement with WITRON for the developments. WITRON is a leader in the automation of food distribution, and is currently working with METRO on its Ontario facilities.
“This $420 million investment in Quebec is in addition to the $400 million investment in Ontario announced in October 2017 for the modernization of our Toronto distribution centres.
“We are investing in order to remain at the forefront and better meet the expectations of our customers and our merchants, now and in the future,” concluded La Flèche.
METRO says that projected volume growth, along with the integration of volumes currently distributed by third parties, will enable stable employment levels in Quebec.
The new Terrebonne distribution centre is scheduled to open in 2023, while expansion of the Laval facility will reach completion in 2024.
METRO (MRU) is currently down 1.53 per cent to $55.31 per share, with a market cap of $14.02 billion at 12:17pm EST.
