Walmart to Invest About $1.2 Billion in China for Supply-Chain Logistics
July 01 2019 - 3:36PM
Dow Jones News
By Michael Dabaie
Walmart Inc. (WMT) said it plans to increase its investment in
China, with 8 billion yuan ($1.2 billion) for supply-chain
logistics.
The retailer said it launched its first customized perishable
distribution center for the south China region in March, at a cost
of CNY700 million to build. The distribution center serves Walmart
stores in the Guangdong and Guangxi regions, the company said.
Walmart said it will invest in more than 10 distribution centers
in China in the next 10 to 20 years.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 01, 2019 15:21 ET (19:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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