And David Haverly, A&B Properties Senior Vice President of Leasing.
Joel Wine who is A&B CFO will be here later in the presentation. He will be available to answer question. Slide four provides an agenda for our presentation after which we’ll take your questions.
So let me now turn the presentation over to Stan who will provide an overview of our Real Estate and Land businesses.
Okay. Thank you, Suzy, and welcome to this morning’s presentation. I’ll give you a quick overview of the company, a little bit of our history. Who we are and will be upon separation and what our focus and strategy will be going forward from separation.
Starting with slide six, actually I do see a few face, I was going to skip this slide since many of you I know are fully familiar with the company. But there are few new faces here, so just quickly.
We started off in 1870 as a partnership between Sam Alexander and Henry Baldwin. So we are over 140 years old. They started off purchasing 12 acres on island of Maui, which over the decades expanded to include as you can see here over 130 acres of ownership throughout the state and three plantations.
This is really the roots of the company from there we grew our real estate business, we acquired our shipping business, real estate where we started with 1949 when we developed the master-planned community of Kahului on island of Maui for our sugar cane workers, from there we began to look at lands that weren’t use for our sugar cane operations, began to entitle develop those.
Then now 15 years ago we realized that in order to meet our growth objectives in real estate, we’d have to expand beyond our core landholdings. Our core lands are primarily in island of Maui and Kauai smaller population.