New depots and £25m investment programme revealed by delivery firm
Delivery solutions firm DX has opened two new depots in an effort to expand its delivery network.
The new West Midlands depot, located on the Severn Stars industrial estate in Coventry has now encompassed DX’s freight operations at Nuneaton, where the group’s express division operated from.
Another depot has opened in the South West in Bodmin, to service distribution across Cornwall. Both depots will also serve the groups freight division, which specialises in the delivery of irregular dimension and weight items.
Lloyd Dunn, CEO of DX (Group) plc, said: “Not only do (the depots) add further capacity, they will help to enhance customer service levels. Investment in the depot network will continue to be a major focus this year, as we continue to drive the business forward, supported by our £20 million – £25 million capital investment programme.”
The £25m investment programme over the next three years has recently been launched.
With plans to add 12 more depots over the next two years, DX says it is all to increase delivery capacity, enhance customer service and free up resources at other depots. Plans also include investment in parcel-handling equipment and IT infrastructure.
DX announced it had appointed the managing partner of Gatemore Capital Management in December to its board, just two weeks after the activist fund demanded a seat in order to address governance issues.
Liad Meidar, has been appointed as a non-executive director, he said: “The company’s management represents one of the leading overnight freight and parcels teams in the country and, since 2017, has successfully executed an outstanding turnaround. DX is now facing tremendous growth opportunities.”
The activist fund sent a letter to DX Group’s board in November that revealed it had a stake of approximately 20.5% in the company and counted itself “amongst DX’s most enthusiastic shareholders.”
Gatemore had been disappointed with the share price of DX and its announcement to not publish its annual results in time for its AGM and therefore Meidar was appointed, in order to better understand the underlying issues
