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    Lekmer moves into a new warehouse

    2015-01-21 08:45 - Regulatory press release
    Qliro Group AB (formerly CDON Group AB), today announced that its subsidiary Lekmer will move into a new warehouse. The move creates preconditions for continued growth and increased efficiency.

    As a result of the continued strong growth of the Group companies Lekmer and Nelly, Lekmer will move its warehousing operations from CDON Group Logistics in Falkenberg to DB Schenker in Arlandastad outside Stockholm, Sweden. The move provides Lekmer with a larger warehouse space and an automated flow of goods, while it also provides with additional free capacity for its continued expansion in Falkenberg. The warehouse relocation is expected to result in significant efficiency improvements as well as lower handling costs for Lekmer. Relocation costs are estimated at SEK 15-20 million and will be attributed to Lekmer’s results for the first quarter 2015 and on completion the cost savings are expected to exceed relocation costs on an annual basis.

    As an effect of Lekmer’s relocation CDON Group Logistics intends to reorganise the operations in Falkenberg with an initial headcount reduction of 55 employees. The changes will be implemented during the spring. Non-recurring costs related to the staff reduction is included in the abovementioned relocation costs.

    These changes creates preconditions for continued growth in Nelly and Lekmer through a more efficient logistics and an increased scalability, comments Paul Fischbein, President and CEO of Qliro Group.

    The information in this announcement is such that Qliro Group AB (publ) is required to disclose under the Securities Markets Act. This information was released for publication at 08:45 CET on 21 January 2015.