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National Milk Records to set up new 24-hour testing lab in Wolverhampton
by Jamie Ashcroft - 30/06/2011
"National Milk Records (PLUS:NMRP) is preparing to set up a 24-hour milk testing laboratory in Wolverhampton."
This morning the company told investors that it has bought a freehold building that will house the new lab.
Importantly this new lab will consolidate all the group's current testing facilities in the UK, in Harrogate and Wolverhampton. Once operational it will be the group’s only lab, open 24-hours a day, seven days a week.
The new centralised lab is expected to give annual savings of up to £150,000. The group bought the building for £475,000 with a 15 year mortgage.
"We are continually looking for ways to streamline our costs, increase efficiency and in turn the profitability of the company to maximise value for shareholders,” said NMR managing director Andy Warne.
"Demand for our services is growing, particularly as concerns regarding future food shortages and food quality requirements increase, and the new premises, which will consolidate our UK milk recording and payment testing laboratories, will increase productivity across the company's divisions further as we focus on taking advantage of this strong market environment going forward."
The lab is expected to become fully operational in the first quarter of 2012, following £325,000 refurbishment work that will begin in August.
The new the site will also provide a central transport depot for NMR's vehicles, which currently operate out of a leased site in Stone, Staffordshire.
Additionally NMR said that the rolling mortgage, every three years, will provide an immediate cash flow advantage.
As its core business the group provides milk recording services to around half of Britain’s farmers, but it has also been working to expand its services to include dairy testing, livestock tracking and fertility-related services.
More Details: http://www.proactiveinvestors.co.uk/companies/news/29964/national-milk-records-to-set-up-new-24-hour-testing-lab-in-wolverhampton-29964.html
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