Business
G Willi Food to construct a new logistics center with an investment of NIS 90 million
G. Willi-Food International Ltd. (the "Company" or "Willi-Food") received a building permit to construct a new refrigerated and frozen distribution center
About this update from G. Willi-food International, Ltd.
[{"type":"text","content":"G. Willi-Food International Ltd. (the \"Company\" or \"Willi-Food\") received a building permit to construct a new refrigerated and frozen distribution center with an investment of NIS 90 million (US$ 24.6 million). \nThe advance new logistics center will be automated and computerized and will substantially increase the storage space that is currently available at the old logistics center adjacent to which it is to be constructed.\nThis New Logistics Center is designed to effectively and efficiently support the Company's expansion and growth plans for the coming years, including the potential entry into new product categories, of frozen and chilled foods.\nYAVNE, Israel, March 6, 2023 /PRNewswire/ -- G. Willi-Food International Ltd. (NASDAQ: WILC) (TASE: WILF) (the \"Company\" or \"Willi-Food\"), a global company that specializes in the development, marketing and international distribution of kosher foods announces the receipt of a building permit for a new logistics center. The permit was received after a year and a half of planning and obtaining approvals from various authorities.\nThe new logistics center will be built on property owned by the Company in Yavne, adjacent to the old logistics center currently in operation and will allow the Company to significantly expand its storage, collection and distribution space in order support the Company's continued growth and increased activity in the Israeli food market, including expansion into new categories and increasing market share.\nThe Company currently expects to invest approximately NIS 90 million (US$ 24.6 million) to be financed from the Company's own resources.\nJoseph Williger, Co-Chairman of Willi-Food: \"Receipt of the building permit for the new logistics center is a significant milestone for the Company that will enables the Company's continued growth in the Israeli food market. The new logistics center that will be established is intended to be a state-of-the-art and technologically advanced structure that will significantly increase the Company's logistics capabilities in the field of storage, collection and distribution. We believe that through the new logistics center the Company can grow significantly and strengthen its activities and enter into new categories of refrigerated and frozen products. The new center will also enable the provision of logistic service...