Upson expects warehouse to be completed by end of 2023
LISTED retailer Upson International Corp. expects its new warehouse in Manila to be completed by December and improve its supply chain capabilities for customers in the National Capital Region and nearby provinces.
“The strategic location of this warehouse gives us proximity advantages. Being near our customers and suppliers drives competitiveness and sustainability by enabling delivery speed, optimizing costs, and reducing road transport and its associated emissions. Its short distance to our other warehouse and headquarters can also boost efficiency and productivity in operation,” Upson Chief Executive Officer Arlene Louisa T. Sy said in a stock exchange disclosure on Tuesday.
“Achieving our long-term strategy requires investment in supply chain capacity and infrastructure to improve our overall performance and maintain our leadership in the industry,” she added.
The facility is a six-storey building with a floor area of 7,047 square meters. Four floors of the building will be for warehouse use while two floors will be for loading and unloading, and parking.
“The construction began in September 2021 and is 83% complete as of August 15. It is scheduled for completion in December 2023,” Upson said.
The facility is situated close to the Port of Manila and the headquarters of various technology brand suppliers. The facility is expected to support the company’s customer base across Metro Manila, Cavite, Laguna, Batangas, Rizal, Bulacan, and Pampanga.
According to Upson, the new facility is less than a kilometer from its existing warehouse and will add to the company’s existing sites in Manila, Cebu, Cagayan de Oro, and Davao.
Upson previously announced that it is planning to invest in new warehouses across locations such as Cabanatuan, Dagupan, Naga, Palawan, Iloilo, Bacolod, General Santos, and Zamboanga to expand its nationwide store network.
Upson’s IT retail brands include Octagon, Micro Valley, Gadget King, and Octagon Mobile.
On Tuesday, shares of Upson at the local bourse dropped three centavos or 1.54% to end at P1.92 apiece. — Revin Mikhael D. Ochave
