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Article: Chiquita Brands International Signs Agreement To Sell Armuelles, Panama, Division Assets To Worker Cooperative; Tripartite Negotiations Yield Fair, Responsible Solution.
- Article from:
- PR Newswire
- Article date:
- April 28, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Chiquita Brands International announced today that it has signed an agreement with union leaders and the government of the Republic of Panama to sell the assets of its Puerto Armuelles Fruit Co. (PAFCO) division to a worker cooperative, Cooperativa de Servicios Multiples de Puerto Armuelles, R.L. (COOSEMUPAR). This cooperative is led by members of the Armuelles banana workers union, called SITRACHILCO (Sindicato Industrial de Trabajadores de la Chiriqui Land Company y Empresas Afines). The parties expect the transaction to close by the end of May.
"After months of hard work and several days of intense negotiations last week, I am delighted that we have reached a ...