Chiquita Outlines Business Restructuring to Improve Profitability and Accelerate Strategy.
PR Newswire Europe, October, 2007
CINCINNATI, October 29 /PRNewswire/ --
-- Actions to Generate US$60-80 million in Annual Savings after US$25 Million Charge --
Chiquita Brands International, Inc. (NYSE: CQB) today outlined a restructuring plan and management changes designed to accelerate its previously announced strategy to become the global leader in healthy, fresh foods. This business restructuring is designed to improve the company's profitability by consolidating operations and simplifying its overhead structure to improve efficiency, stimulate innovation and further enhance focus on customers and consumers.
As a result of these changes, the company expects to generate new, sustainable cost reductions of approximately US$60-80 million annually, beginning in 2008, after...
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