Chiquita has made the decision to renew the licensing and distribution agreement with Apio for another five years, thus maintaining Chiquita’s exclusive right to use our BreatheWay technology for bananas, avocados and mangos. The Chiquita-to-Go® banana program continues to grow at double digit rates and is a higher margin program for Chiquita. The Fresh and Ready® avocado program is a strategic focus for Chiquita and Landec’s BreatheWay technology for avocados continues to demonstrate good performance in the marketplace. In connection with renewing the agreement, the companies have agreed to add the use of our BreatheWay technology for creating an optimal atmosphere within shipping containers in the field of global transport of tropical fruit. Chiquita has a sizable shipping container technology business that fits well with Landec’s long-term interest in using modified atmosphere technology for preserving produce during global transport. The container concept is in development and we will update you as the technology is advanced and tested.2) What is the status of Windset’s new Santa Maria, California operation?
Landec Corporation Reports First Quarter Fiscal Year 2012 Results
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