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January 24, 2013
08:57 EDTDOLEDole Food expects 2013 fresh fruit performance to continue downward trend
Dole’s General Counsel C. Michael Carter stated, “In light of the competitive fresh produce market conditions, we are assessing the new Dole’s capital requirements and other possible near-term funding resources, such as Dole’s Hawaii land holdings. Potential investments could include increasing the number of fresh fruit farms owned and operated by the new Dole, and required updating of our owned vessel fleet, which has an average age of 21 years. (...) Fresh fruit performance in 2012 was below 2011, and we expect this trend to continue in 2013. We expect fresh vegetables Adjusted EBITDA to improve in 2013, but not enough to offset the expected continued decline in the North America banana market.”
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