The North West Company Inc.

The North West Company Inc.

February 24, 2015 18:46 ET

The North West Company Invests $150 Million in Northern Canada

WINNIPEG, MANITOBA--(Marketwired - Feb. 24, 2015) - The North West Company ("North West") (TSX:NWC), the largest private employer of Inuit and First Nations people in Canada's North, announced plans today to invest $150 million over the next three years to expand stores and to launch new products and services in the region.

"This investment represents a major commitment by North West to provide more value to northern shoppers." said President and CEO Edward Kennedy. "Our customers expect more convenience, more fresh food choices, more services, and more job opportunities. Our stores of tomorrow will meet these expectations and beyond."

The planned work will include replacing refrigeration and lighting with more energy efficient solutions, and new warehousing to allow more storage over the winter and less reliance on expensive air freight costs. Shoppers will see expanded fresh and prepared foods departments, more children's and outdoor living selection, and a range of new financial and health services.

"One new feature will be a multi-purpose room (MPR) linked by on-line video. The MPRs will be used to share information with customers, access products and services, and to train staff", added Kennedy.

"Another important aspect is that these changes will help create jobs in the North. We believe that with technology and training, we can employ more local northerners to replace work that is being provided from the south today," Kennedy continued. "We expect to create approximately 125 new permanent positions in addition to employment created during the construction phases."

"Since 2011 we've seen a 25% increase in healthy food sales made possible in part by Nutrition North subsidies, but even more so by our being able to drive down freight costs and food waste and pass the savings on to northern consumers," Kennedy concluded. "Our investment reflects a belief in the huge potential of further innovation and collaboration between all northerners. Working together is our best opportunity to improve the quality, affordability and sustainability of northern living for everyone."

Notice to Readers

Certain forward-looking statements are made in this news release, within the meaning of applicable securities laws. These statements reflect North West's current expectations and are based on information currently available to management. The actual results and investments referred to could differ materially from those anticipated in this news release. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause actual investment, results and performance to differ materially from those anticipated. North West undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.

Contact Information

  • For interviews with the President contact:
    Derek Reimer
    Director, Business Development