28 May 2015 07:00
28 May 2015
AIM: DX
DX (Group) plc
("DX" or "the Company")
Agreement for the purchase of land for
a major new hub
DX, a leading independent parcels, mail and logistics network operator, is pleased to announce the proposed development of a major new hub having reached agreement for the purchase of a 44 acre site in the West Midlands. The estimated capital investment required for this major project is approximately £35 million, including the site purchase. It is anticipated that it will be funded from the Company's existing cash resources and debt facilities.
The site purchase is subject to planning consent and the project is expected to be completed over the next two to three years. The hub is intended to replace DX's current sites at Willenhall, approximately 3.5 miles away, securing existing employment and creating substantial additional capacity, enhanced Customer service levels and increased efficiencies.
A further update will be provided in due course.
Enquiries:
DX (Group) plc |
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Petar Cvetkovic, Chief Executive Officer |
| T: 01753 631624 |
Ian Pain, Chief Financial Officer |
| T: 01753 631626 |
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Zeus Capital (Nominated Advisor and Broker) |
| T: 020 7533 7714 |
Nick How/Dan Bate/Ross Andrews John Goold/Dominic King |
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KTZ Communications |
| T: 020 3178 6378 |
Katie Tzouliadis |
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