Symbotic (SYM) Puts Dinero in Investors Pockets on Announcement of Agreement with Walmex
PRISM NextGen Tech and AI Index company Symbotic Inc. (SYM), who is a leading provider of AI-powered robotics technology for the supply chain, announced today that it has entered into commercial agreements with Walmart de México y Centroamérica (MBV/BIVA: Walmex) to implement its cutting-edge warehouse automation systems at two of the retailer’s locations near Mexico City.
As part of the agreements, Symbotic will install its comprehensive systems at two newly built distribution centers, with the first site breaking ground in the Bajio region. This location will become one of the largest in Walmex’s Mexican distribution network and represents the largest single-phase system deployment in Symbotic’s history.
To support its expansion, Symbotic has created a new entity, Symbotic Mexico, S. de R.L. de C.V., to meet the growing demand for warehouse automation in Mexico. This move, along with its first customer agreements in the region, marks a significant step forward in Symbotic’s international growth strategy.
“We are excited to welcome Walmex as a customer and to introduce advanced automation to its Mexican operations, enhancing productivity in both its distribution centers and stores,” said Rick Cohen, Chairman and CEO of Symbotic. “This is a major milestone in our growth, underscoring the versatility of our systems and our ability to deliver innovative supply chain technology globally.”