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Ocado to build £200m warehouse in the West Midlands

Ocado is set use the proceeds of its July float to build a £200 million distribution centre in the West Midlands.

The online retailer has identified a 35-acre site near Tamworth in Staffordshire where it hopes to open the 350,000 sq ft warehouse by the end of 2012.

Finance director of Ocado Andrew Bracey told the Telegraph: “Ocado is delighted to be gaining a foothold in the West Midlands, its superb transport links will make our service available to even more customers.”

Ocado cut the price range for its flotation from 200p-275p to 180p-200p after analysts said the original price was too high. The firm has already run up loses of £350m, but is expected to make a profit next year.