Fresh Del Monte Produce
From Wikipedia, the free encyclopedia
Fresh Del Monte Produce (NYSE: FDP) is a major producer and distributor of fruit and other agricultural products.
The company came into existence in its current form in 1996, after a change of ownership. In 1989, the Del Monte Corporation split into two separate corporations, Del Monte Tropical Fruit and Del Monte Foods. The former changed its name in 1993 to Fresh Del Monte Produce, while the latter still exists as a separate entity. However, the "Del Monte Shield" mark is still used by both companies.
Fresh Del Monte Produce is based in George Town, Cayman Islands. The current chief executive officer is Mohammad Abu-Ghazaleh.
The Company operates farming operations and purchases fruits from independent growers in the following countries: Costa Rica, Guatemala, Ecuador, Colombia, Peru, Brazil, Argentina, Chile, Cameroon, South Africa, Spain, Philippines. The Company's primary products are bananas, pineapples, melons, and fruits. The Company also produces "fresh-cut" fruits and vegetables under the Del Monte brand.
During October, 2004, the Company purchased the Del Monte Foods operations in Europe, Africa, and the Middle East. This purchase united a portion of what had been the original Del Monte Foods Company. With this purchase, the Company now operates fruit canning and fresh juice operations in Italy, Greece, Kenya and South Africa. The Del Monte Foods and Del Monte Fresh operations in Europe have since been consolidated.
Fresh Del Monte Produce was a major producer of pineapple in Hawaii, with most of its crop produced in central Oahu. In February 2006, the company announced that it would be ceasing pineapple operations in Hawaii, citing high costs, increased competition, and an inability to come to terms with the landowner for a long-term lease.[1] At the time, the company had said that it would leave after the final harvest in 2008. However, the company ceased all Hawaii production in November 2006 and laid off 551 workers on January 22, 2007.[2]
[edit] References
- ^ Dave Segal, "Del Monte quits Kunia", Honolulu Star-Bulletin, February 2, 2007. [1]
- ^ Nina Wu, "Del Monte quitting isles in 2 months", Honolulu Star-Bulletin, November 18, 2006. [2]
