Featured Company News - Mattel Opens New Distribution Center in Jonestown Pennsylvania
LONDON, UK / ACCESSWIRE / July 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for toy manufacturer Mattel, Inc. (NASDAQ: MAT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MAT. The Company announced on July 21, 2017, that it had opened a new distribution center in Jonestown, Pennsylvania. The distribution center will warehouse products of Mattel, including Mega Brands and the Company has plans to add Fisher-Price products in future. Mattel will have a total of three distribution centers across the country with the opening of this facility. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on the opening of the new distribution center in Pennsylvania, Philippe Lambotte, Senior Vice President of Global Logistics and Planning, Global Development and Product Supply at Mattel said:
"We are excited to open our newest distribution center in Jonestown. This facility is centrally located to our customers in the region, allowing us to serve them more rapidly and efficiently. In addition, we are proud to create more job opportunities for our neighbors in the community and help the local workforce."
Steve Sensing, President, Global Supply Chain Solutions of Ryder System added:
"This new integrated warehouse and transportation management operation is a win-win for everyone - from the local community in Lebanon County that will benefit from more jobs to Mattel customers across the region, who will receive their products faster than ever before."
About the Jonestown Distribution Center
The Jonestown Distribution Center is a 1,000,200-square foot facility and is located in the Gateway Logistics Park area at the junction of Interstate 81 and Interstate 78. The new Class A building features 36-foot clear heights, nearly 15,000 square feet of office space, dedicated automobile and distribution ingress/egress points, and up to 450 secured off-building trailer storage stalls. In September 2016, Mattel had entered into a long-term lease agreement with MRP Industrial and Clarion Partners joint-venture for the development of the facility.
The facility is fully operational and the Company expects that up to 400 jobs will be generated in Lebanon County during peak season. The location will help the Company to quickly cater to its retail partners and customers in the region.
Miami, Florida based Ryder System, Inc. (NYSE:R) will operate and staff the entire facility. Ryder is a FORTUNE 500® commercial transportation, logistics, and supply chain management solutions Company. Security magazine has named Ryder one of the top Companies for security practices in the transportation, logistics, supply chain, and warehousing sector. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. It has a presence in over 800 locations across North America with a global presence in Canada, Mexico, Europe, and Singapore. In FY16, the Company reported annual revenue of approximately $6.8 billion.
About Mattel
El Segundo, California based Mattel is the worldwide leader in the design, manufacture, and marketing of toys and family products. Some of its iconic brands include Barbie®, Hot Wheels®, Monster High®, American Girl®, Thomas & Friends®, and Fisher-Price® brands, including Little People® and Power Wheels®.
Mattel also creates a wealth of lines and products made in collaboration with leading entertainment and technology companies. Its products are sold across 150 nations. It has a presence in over 40 countries and territories and is supported by a global team of nearly 30,000 people.
Last Close Stock Review
On Monday, July 24, 2017, the stock closed the trading session at $20.80, slipping 3.84% from its previous closing price of $21.63. A total volume of 10.80 million shares has exchanged hands, which was higher than the 3-month average volume of 6.71 million shares. Mattel's stock price advanced 2.46% in the last one month. The stock is trading at a PE ratio of 26.07 and has a dividend yield of 2.88%. The stock currently has a market cap of $7.13 billion.
Ryder System's share price finished yesterday's trading session at $72.34, marginally down 0.19%. A total volume of 856.82 thousand shares has exchanged hands. The Company's stock price advanced 6.90% in the last one month and 4.46% in the previous twelve months. Shares of the Company have a PE ratio of 15.69 and have a dividend yield of 2.54%. The stock currently has a market cap of $3.87 billion.
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