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WEIS MARKETS, INC.

(WMK)
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Weis Markets : Breaking Ground On Our Distribution Center Expansion in Milton, PA

04/27/2015 | 04:22pm EST
Breaking Ground On Our Distribution Center Expansion in Milton, PA

Monday, April 27th, 2015

Weis Markets today held a ceremonial groundbreaking to mark the beginning of a project to expand its 1.1 million square-foot distribution center in Milton, Pennsylvania.

The project will expand the facility's cold storage capacity. The 100,000 square-foot addition will be used to store and distribute fresh meat, deli and dairy products. The company expects to complete construction in February 2016.

"Our expansion will enhance our distribution center's long-term productivity and viability. It will also improve our overall competitiveness and help ensure the economic prospects of a facility employing 750 Weis associates - our company's single largest location," said Weis Markets Chairman and Chief Executive Officer Jonathan Weis. "In the years ahead, as we expand our distribution center, we expect to hire additional associates and create new opportunities at our facility."

Mr. Weis also thanked Sen. John Gordner, R-27, Berwick and Representative Lynda Culver, R-108, Sunbury for their help in securing a $1 million state Economic Growth Initiative grant for the project.

Mr. Weis also spoke about the expansion's conservation features. "Our expansion is also a sustainable project. When completed, our new facility will have the latest in energy efficient equipment and lighting and will use significantly less refrigerant," said Mr. Weis. "The addition will allow us to consolidate our delivery schedule. Consequently, we will use 23,000 fewer gallons of diesel fuel in a year's time and our trucks will travel 144,000 fewer miles."

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Financials (USD)
Sales 2020 4 113 M - -
Net income 2020 119 M - -
Net cash 2020 40,2 M - -
P/E ratio 2020 10,7x
Yield 2020 2,61%
Capitalization 1 635 M 1 635 M -
EV / Sales 2019 0,33x
EV / Sales 2020 0,30x
Nbr of Employees 24 000
Free-Float -
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Managers and Directors
Jonathan H. Weis Chairman, President & Chief Executive Officer
Michael T. Lockard Chief Financial Officer & Senior Vice President
Richard G. Zeh Chief Information Officer & Senior Vice President
Kurt A. Schertle Chief Operating Officer
Gerrald B. Silverman Independent Director
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