Symbotic Announces Agreement to Implement Multiple Industry-Leading Warehouse Automation Systems for Walmex and Strategic International Expansion in Mexico

Rhea-AI Summary

Symbotic Inc. (Nasdaq: SYM), an A.I.-enabled robotics technology leader for supply chains, has announced commercial agreements with Walmart de México y Centroamérica (Walmex) to implement warehouse automation systems in two locations near Mexico City. The company will deploy its end-to-end systems at two greenfield distribution centers, with the first site breaking ground in the Bajio region of Mexico.

Symbotic has established a new business entity, Symbotic Mexico, S. de R.L. de C.V., to serve customers in Mexico and expand globally. The Bajio site will be one of the largest in Walmex's distribution network and marks Symbotic's largest single-phase project deployment. These agreements represent significant progress in Symbotic's international expansion plans and demonstrate the broad applicability of their systems in the global market.

Positive

• Secured commercial agreements with Walmart de México y Centroamérica (Walmex)
• Implementing warehouse automation systems in two locations near Mexico City
• Established Symbotic Mexico, S. de R.L. de C.V. for international expansion
• Bajio site project is Symbotic's largest single-phase deployment
• Strategic international expansion into the growing global warehouse automation market

Negative

• None.

News Market Reaction

+18.37%

1 alert

+18.37% News Effect

On the day this news was published, SYM gained 18.37%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WILMINGTON, Mass. and MEXICO CITY, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, today announced it has entered into commercial agreements with Walmart de México y Centroamérica (MBV/BIVA: Walmex), to implement Symbotic’s industry-leading warehouse automation systems in two of the retailer’s locations near Mexico City.

Under the agreements, Symbotic will deploy its end-to-end systems at two greenfield distribution centers, with the first site currently breaking ground in the Bajio region of Mexico. The Bajio site will be one of the largest in Walmex’s distribution network in Mexico and marks the largest system Symbotic has deployed as a single-phase project.

Symbotic established a new business entity, Symbotic Mexico, S. de R.L. de C.V., to serve customers in Mexico and tap into the growing global demand for warehouse automation. The new entity and first customer agreements in the region represent meaningful progress for Symbotic’s strategic international expansion plans.

“We are pleased to welcome Walmex as a customer and to implementing state-of-the-art automation within its Mexican network that will enhance productivity in both its distribution centers and stores,” said Rick Cohen, Chairman and Chief Executive Officer of Symbotic. “This marks a significant milestone in Symbotic’s growth, demonstrating the broad applicability of our systems and our ability to provide revolutionary supply chain technology to a global market.”

Symbotic’s robotic case picking systems play a strategic role in supporting the retailer’s goal of modernizing its vast supply chain network. The systems transform distribution centers for increased efficiency, capacity, and worker safety, enabling faster shipments to stores and increased inventory accuracy.

ABOUT SYMBOTIC

Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-generation technology, high-density storage and machine learning to solve today's complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.

ABOUT WALMART DE MEXICO Y CENTROAMERICA

Walmart de México y Centroamérica (MBV/BIVA: Walmex) is a people-led, tech-powered, omnichannel retailer dedicated to helping people save money and live better. It operates in six countries: Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua. It has a team of more than 231 thousand associates, who operate 3,938 stores and clubs, as well as 32 distribution centers in the region. In Mexico, more than five million customers make purchases daily at Bodega Aurrera, Sam's Club, Walmart Express and Walmart Supercenter, as well as online sales and on mobile devices. www.walmartmexico.com 

SYMBOTIC MEDIA CONTACT

Kimberly Zminkowski
Director, Marketing
mediainquiry@symbotic.com

FAQ

What is the recent agreement between Symbotic (SYM) and Walmex?

Symbotic (SYM) has entered into commercial agreements with Walmart de México y Centroamérica (Walmex) to implement warehouse automation systems in two locations near Mexico City, including a large-scale project in the Bajio region.

How is Symbotic (SYM) expanding internationally?

Symbotic (SYM) has established a new business entity, Symbotic Mexico, S. de R.L. de C.V., to serve customers in Mexico and tap into the growing global demand for warehouse automation.

What is significant about Symbotic's (SYM) Bajio region project in Mexico?

The Bajio site project for Walmex will be one of the largest in their distribution network in Mexico and marks the largest system Symbotic (SYM) has deployed as a single-phase project.

How do Symbotic's (SYM) systems benefit retailers like Walmex?

Symbotic's (SYM) robotic case picking systems increase efficiency, capacity, and worker safety in distribution centers, enabling faster shipments to stores and increased inventory accuracy.