Diamond State Port Corporation and Chiquita Sign New Lease Agreement

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Printer-friendly versionPrinter-friendly versionPDF versionPDF versionThe Port of Wilmington retains “Top Banana” status WILMINGTON, DEL. – July 14, 2014 – The Diamond State Port Corporation (“DSPC”) and Chiquita Brands (NYSE:CQB) have recently reached an agreement by which Chiquita will continue to use the Port of Wilmington as its mid-Atlantic distribution hub for the next 5 years. Also, this agreement includes two 5-year lease renewal options which will extend Chiquita’s relationship with Wilmington until 2029. With the retention of Chiquita’s business the Port will continue to handle more bananas than any other port in North America and retain its claim as “Top Banana.” In 1988 Chiquita consolidated its mid-Atlantic supply chain operations at the Port of Wilmington, now its largest port operation in North America. It leases 28.7 acres at the Port and its vessels make approximately 52 port calls annually. Chiquita operates a fully containerized service between Central America and Wilmington discharging bananas, pineapples and other tropical fruit and vegetables, and loading back forest products, used automobiles and general cargo. “We are extremely pleased that Chiquita has decided to sign a new lease with the port and continue our long and “fruitful” relationship,” said Gene Bailey, Executive Director of the DSPC. “Chiquita is a most important customer and responsible for hundreds of jobs and the resultant and significant economic impact to our Port, state and region. We are grateful to the Governor and the General Assembly for the support which has allowed us to make those capital equipment acquisitions and infrastructure improvements needed to retain Chiquita’s business despite a very competitive environment,” Bailey added. “The Port of Wilmington is an important destination for Chiquita and our customers,” said Mario Pacheco, Chiquita’s Senior Vice President, Global Logistics. “We are pleased that we have reached an agreement that will enable us to continue to call Wilmington home for many years to come. Wilmington is a great partner for Chiquita and we look forward to growing our business together in the years ahead.” About Chiquita Brands International, Inc. Chiquita Brands (NYSE: CQB) is a leading international marketer and distributor of nutritious, high-quality fresh and value-added food products - from energy-rich bananas, blends of convenient green salads, other fruits to healthy snacking products. The company markets its healthy, fresh products under the Chiquita® and Fresh Express® premium brands and other related trademarks. With annual revenues of more than $3 billion, Chiquita employs approximately 20,000 people and has operations in approximately 70 countries worldwide. For more information, please visit http://www.chiquita.com/. About the Port of Wilmington, Delaware Founded in 1923, the Port of Wilmington is a full service mid-Atlantic seaport at the confluence of the Christina and Delaware rivers strategically located and serving over 200 million North American consumers. The Port is the nation’s leading gateway for imported perishable cargo and operates one of the largest on-dock cold storage complexes in North America. An economic engine, Delaware’s seaport is responsible for 5,200 family sustaining jobs annually generating $384 million in business revenue, $360 million in personal income and $36 million in State and regional taxes. The Port is owned and operated by the Diamond State Port Corporation, a corporation of the State of Delaware. News Source : Diamond State Port Corporation and Chiquita Sign New Lease Agreement
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