Metro Retail plans new distribution hub

Cebu-based retailer Metro Retail Stores Group Inc. said Monday it is reallocating P715 million raised from its initial public offering to build a distribution center in Sta. Rosa, Laguna.

MRSGI said in a disclosure to the stock exchange its board of directors approved the move to drop its plan to establish a distribution center in Cebu and instead build a new logistics facility in Laguna to serve the growing demand in Luzon.

“At present, the demand for warehousing and logistics requirements in Luzon has been increasing and can no longer be accommodated by the existing leased property in Silangan, Canlubang, Laguna, which currently serves as the distribution center of the  corporation for Luzon,” MRSGI said.

“Furthermore, there is no assurance that the existing leased property can be renewed under favorable terms in the long term, and the corporation has a more viable alternative to construct its own distribution in Sta. Rosa City, Laguna,” it said.

Topics: Metro Retail Stores Group Inc. , distribution center , Sta. Rosa , Laguna
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Congress Trivia 1