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Chiquita Brands International Inc

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BUSINESS
June 12, 2004
Chiquita Brands International Inc., under investigation for payments its Colombian banana subsidiary made to groups designated by the United States as terrorist organizations, said it was selling the unit to Invesmar Ltd. for $28.5 million in cash.
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BUSINESS
October 30, 2007 | From the Associated Press
Fruit and salad distributor Chiquita Brands International Inc., struggling to boost profit amid higher costs and worries over food safety, said Monday that it would cut management and production jobs, close facilities and leave businesses as part of a plan to reduce costs by $60 million to $80 million a year. The news sent Chiquita's stock up by almost 12%.
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BUSINESS
February 4, 2005 | From Bloomberg News
Europe's second-highest court rejected multimillion-dollar compensation claims by the world's two largest banana companies against European Union banana tariffs and ordered them to pay costs. The companies, Chiquita Brands International Inc. and Dole Food Co., had sought compensation at the Court of First Instance. Although the amount of Dole's claim is confidential, Chiquita had wanted the European Commission to pay 564 million euros ($733.2 million), plus interest at an annual 8% rate.
BUSINESS
February 4, 2005 | From Bloomberg News
Europe's second-highest court rejected multimillion-dollar compensation claims by the world's two largest banana companies against European Union banana tariffs and ordered them to pay costs. The companies, Chiquita Brands International Inc. and Dole Food Co., had sought compensation at the Court of First Instance. Although the amount of Dole's claim is confidential, Chiquita had wanted the European Commission to pay 564 million euros ($733.2 million), plus interest at an annual 8% rate.
BUSINESS
January 22, 2003 | From Bloomberg News
Chiquita Brands International Inc., which last year emerged from Chapter 11 bankruptcy protection, sold a City of Commerce-based potato and onion distributor to a management-led buyout group for about $7 million in cash. The sale of Progressive Produce Corp., which employs 100 workers, was effective Jan. 15, Chiquita said. Chiquita is selling or shutting down smaller businesses to focus on its primary banana and fruit operations. Shares of Cincinnati-based Chiquita fell 42 cents to $14.
BUSINESS
March 3, 1999 | Bloomberg News
The World Trade Organization postponed a decision on whether the U.S. can impose punitive duties on $520 million worth of European Union exports, saying it needs more information from the U.S. and EU. The decision throws into doubt U.S. plans to impose 100% tariffs on mostly luxury goods such as chandeliers and cashmere sweaters. The dispute mainly involves one U.S. company, Chiquita Brands International Inc.
BUSINESS
November 13, 2001 | Associated Press
Chiquita Brands International Inc., facing reorganization, said it has reached a deal with bondholders to reduce the company's debt by about $700 million. As a result of the deal, Chiquita plans to file a prepackaged reorganization plan in U.S. Bankruptcy Court. Chiquita's management said it expects the deal will shorten the company's time operating under Chapter 11 protection.
BUSINESS
June 12, 2004
Chiquita Brands International Inc., under investigation for payments its Colombian banana subsidiary made to groups designated by the United States as terrorist organizations, said it was selling the unit to Invesmar Ltd. for $28.5 million in cash.
BUSINESS
January 22, 2003 | From Bloomberg News
Chiquita Brands International Inc., which last year emerged from Chapter 11 bankruptcy protection, sold a City of Commerce-based potato and onion distributor to a management-led buyout group for about $7 million in cash. The sale of Progressive Produce Corp., which employs 100 workers, was effective Jan. 15, Chiquita said. Chiquita is selling or shutting down smaller businesses to focus on its primary banana and fruit operations. Shares of Cincinnati-based Chiquita fell 42 cents to $14.
BUSINESS
November 13, 2001 | Associated Press
Chiquita Brands International Inc., facing reorganization, said it has reached a deal with bondholders to reduce the company's debt by about $700 million. As a result of the deal, Chiquita plans to file a prepackaged reorganization plan in U.S. Bankruptcy Court. Chiquita's management said it expects the deal will shorten the company's time operating under Chapter 11 protection.
BUSINESS
October 4, 2001 | Bloomberg News
Chiquita Brands International Inc. agreed to pay $100,000 to settle regulatory charges that the company tried to conceal a bribe paid to Colombian officials for a customs license. The Securities and Exchange Commission alleged that the produce firm paid $30,000 to Colombian customs officials to obtain renewal of a storage license in the South American country.
BUSINESS
July 25, 2001 | From Associated Press and Bloomberg News
McDonald's Corp. on Tuesday reported a 16% drop in profit, its third straight quarterly decline, as the burger giant's stock rose modestly on its latest assurance that beef safety fears are easing in Europe, its top international market. Squeezed by weak foreign currencies and other concerns, McDonald's said it may close as many as 250 under-performing restaurants this quarter, primarily in emerging international markets.
BUSINESS
April 14, 2001 | From Bloomberg News
Dole Food Co., the world's largest fruit and vegetable producer, blasted a settlement between the U.S. and European Union over EU banana-import rules, saying the accord favors rival Chiquita Brands International Inc. The agreement, which allocates shares of the EU banana market to producers from various parts of the world before the quotas are scrapped in 2006, is anti-free trade, said Westlake Village-based Dole.
BUSINESS
September 21, 1998 | Associated Press
A grand jury investigating whether Chiquita banana company voicemail was stolen for a newspaper expose has indicted a former Chiquita lawyer on charges of stealing voicemail messages. George Ventura, the company's former legal counsel in Honduras, pleaded not guilty Friday to charges of unlawful interception of communications and five counts of unauthorized access to computer systems. If convicted, he could face up to 12 1/2 years in prison.
BUSINESS
January 31, 2001 | Bloomberg News
Chiquita Brands International Inc. named James B. Riley chief financial officer to succeed Warren Ligan, who left the world's top banana producer in September. Riley, 49, had been CFO at Elliott Co., a maker of turbines and other equipment for the oil and natural gas industry, in 1999, Cincinnati-based Chiquita said. Before that, he was CFO and a founding director of Republic Engineered Steels Inc.
BUSINESS
February 21, 2001 | Reuters
Chiquita Brands International Inc.'s second-largest shareholder said it will pursue certain business combinations, including buying all or part of the troubled banana distributor, to help restore the company's dwindling market value. Consolidated Fruit Corp., a Panama City, Panama-based investor group that holds 9.
BUSINESS
February 14, 2001 | From Bloomberg News and Associated Press
BP Amoco said its fourth-quarter profit nearly doubled as higher prices for crude oil and the integration of newly acquired businesses more than offset pinched profits in its chemicals business. The oil giant's shares declined, however, as Chief Executive John Browne said oil and gas production this year will increase 5.5%, a target some analysts doubt as BP shifts from acquisitions to investing in its own operations. After spending more than $100 billion to acquire Atlantic Richfield Co.
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