Belgian Minister Visit to Farnell Marks Announcement On New European Warehouse.Business Editors LONDON--(BUSINESS WIRE)--April 6, 2001 New Belgian Warehouse Underlines Farnell's Fast Growth In Europe Premier Farnell  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . plc (NYSE NYSE See: New York Stock Exchange : PFP PFP - Plastic Flat Package ), today announced that as part of its global expansion, Farnell, the leading business-to-business distributor of electronic, electrical and industrial components, will host a visit from Belgian Minister, Serge Kubla, on Friday, April 6. The Minister's visit marks an agreement to establish a European Farnell warehouse in Belgium, which will employ initially 100 local people. Farnell is making significant investment in this new site - located in Liege liege In European feudal society, an unconditional bond between a man and his overlord. Thus, if a tenant held estates from various overlords, his obligations to his liege lord, to whom he had paid “liege homage,” were greater than his obligations to the other in the Walloon region
The Walloon Region, commonly called Wallonia, is one of the three Regions of Belgium. in southern Belgium - which underlines the company's strong commitment to its aggressive international expansion program. The government of the Walloon region of Belgium is keen to attract business to the area, which is fast becoming a major center for logistics. The Belgian warehouse is a timely expansion which will meet the needs of the rapidly expanding, high-service European market. Customers will gain added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
Farnell's fast-growing European distribution business is currently being supplied from its main warehouse in Leeds, UK, which ships around 3,000 packages to the continent each day. The expansion into a second European facility will enable Farnell to make significant cost savings on its current overnight shipping costs. UK and other international customers will gain major benefits from the released capacity at the Leeds warehouse, which will be used to expand the current 100,000 plus product range still further. The newly-created space supports Farnell's continuing UK development and will supply the company's Asian market, which grew significantly last year. Staff at the Leeds warehouse will be freed up to work on supplying the UK and these new growth markets. The site for the warehouse was chosen for its excellent air and road transport links to the rest of Europe. Importantly, it is strategically positioned close to the main airport hubs for its main couriers, which will enable Farnell to deliver orders next day. Farnell will take over the warehouse later this year and is expected to become fully operational in 2002. During the first phase, Farnell will use two thirds of the warehouse to store its 95,000- strong European product range. Looking to the future with the proposed 24-year lease agreement with warehouse-owner, Weerts, Farnell has an option to expand into the additional space and to build a second warehouse next door. Commenting on the deal, Angus Fraser Angus Robert Charles Fraser born 8 August 1965, in Billinge Higher End, Wigan, Lancashire was an English cricketer. Fraser was one of the most consistent English seam bowlers of the 1990s and was known for giving few runs away, although like all too many of that decade's , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Farnell & CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. , says: "This is an exciting time for Farnell and the company's tremendous business growth is underlined by the establishment of this new warehouse. Our European customers will be able to select products from the full range of Farnell's European catalogues which are tailored for each country. They will also benefit from our fast, reliable overnight shipping services from this excellent hub. This exciting initiative supports and strengthens the Premier Farnell Group's global distribution capability." Note to editors: About Premier Farnell plc Formed in 1996, Premier Farnell plc was the first global, business-to-business small order, high service distributor. It supplies a broad range of electronic, electrical and industrial products and consumer spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. to the maintenance, engineering, design and repair sectors. Premier Farnell operates in 22 countries and trades in over 100, with 5,800 employees worldwide. Listed on the London and New York Stock Exchanges New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , Premier Farnell recorded an operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. for the year ended January 28, 2001 of (pound)115million ($173million) on sales of (pound)876million ($1,314million). In 1999, the company began its three year (pound)90 million 'Investment for Growth' program. This aims to transform the company from a 'one solution fits all' approach into a highly customer-oriented, proactive organization capable of providing high quality products and services to meet the individual needs of all its customers. For further information, visit www.premierfarnell.com About Farnell As part of the world-wide Premier Farnell Group, business-to-business distributor, Farnell offers its customers over 100,000 stocked products, and access to the full range of products from its sister division, Newark, in the USA. Farnell's is one of the largest ranges of electronic and electrical components and industrial products in the world. Farnell has a strong position in Europe and Australia and is growing fast in newer markets such as the Far East and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. where further penetration is planned. Providing next-day delivery, in-depth technical support and value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. , Farnell is dedicated to meeting the needs of industry and education. Farnell's catalogue, CD-ROMs and web-based services are supplied free to customers and feature everything from adhesives to semiconductors and connectors to industrial controllers. Products are available ex-stock, 24 hours a day, 365 days of the year. For further information, visit www.farnell.com. |
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