Due to the high cost of doing business, Del Monte announced that it would be shutting down its pineapple growing operation on Oahu at the end of 2008, putting some 700 employees out of work.
"...Del Monte officials yesterday blamed the end of their Hawai'i presence on two factors: Expansion of less-expensive pineapple production in other parts of the world and the company's inability to extend its current lease.
"As a result of increased planting of pineapple at lower costs in other parts of the world, the company believes that it will not be economically feasible to continue to produce pineapple in Hawai'i," Del Monte said in a statement.
"In fact, today it would be cheaper for Del Monte to buy pineapples on the open market than for the company to grow, market and distribute Hawaiian pineapple. The current land lease expires in December 2008. Del Monte has not been successful in obtaining a long-term lease extension of its current land lease agreement."..."
The next big question will be, what will become of the displaced workers, and what will the Campbell Estate, which owns the majority of the land Del Monte was using, do with the land now?
Miulang
"...Del Monte officials yesterday blamed the end of their Hawai'i presence on two factors: Expansion of less-expensive pineapple production in other parts of the world and the company's inability to extend its current lease.
"As a result of increased planting of pineapple at lower costs in other parts of the world, the company believes that it will not be economically feasible to continue to produce pineapple in Hawai'i," Del Monte said in a statement.
"In fact, today it would be cheaper for Del Monte to buy pineapples on the open market than for the company to grow, market and distribute Hawaiian pineapple. The current land lease expires in December 2008. Del Monte has not been successful in obtaining a long-term lease extension of its current land lease agreement."..."
The next big question will be, what will become of the displaced workers, and what will the Campbell Estate, which owns the majority of the land Del Monte was using, do with the land now?
Miulang
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