Proposed site purchase for major new hub

RNS Number : 4258O

DX (Group) PLC

28 May 2015

 



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
Petar Cvetkovic, Chief Executive Officer		T: 01753 631624
Ian Pain, Chief Financial Officer		T: 01753 631626
Zeus Capital (Nominated Advisor and Broker)		T: 020 7533 7714
Nick How/Dan Bate/Ross Andrews John Goold/Dominic King
KTZ Communications		T: 020 3178 6378
Katie Tzouliadis

 

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