Chiquita Brands International, Inc. and Landec Corporation, a developer and marketer of technology-based polymer products for food, agricultural and licensed partner applications

Food & Drink Weekly, Sept 13, 2004

Chiquita Brands International, Inc. and Landec Corporation, a developer and marketer of technology-based polymer products for food, agricultural and licensed partner applications, announced today that Landec's food subsidiary, Apio, Inc., has entered into a joint technology development and supply agreement with Chiquita to provide Landec's Intelimer packaging technology for Chiquita bananas.

Under the long-term agreement, Apio will supply Chiquita with its proprietary Intelimer banana packaging technology on a worldwide basis for the ripening, conservation and shelf-life extension of bananas in selective applications on an exclusive basis and for other applications on a non- exclusive basis. In addition, Apio will provide Chiquita with ongoing research and development as well as process technology support. For its part, Chiquita will provide marketing, distribution and retail sales support for Chiquita bananas sold worldwide in Intelimer packaging. To maintain the exclusive license, Chiquita must meet minimum purchase thresholds of Intelimer-based banana packages. Commercial shipments of Chiquita products utilizing Landec's Intelimer packaging are scheduled to begin in early 2005.