Copefrut gives reasons for Chile property sales -

Copefrut gives reasons for Chile property sales

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Copefrut gives reasons for Chile property sales

Chilean fruit export company Copefrut will hold a shareholder meeting on Jun. 30 to discuss the sale of all its properties in the South American country, as part of its business plan developed last year.

In a news release the company said a breakaway from its own production would help foster grower relationships and allow for a greater focus on exports.

"The company's efforts are focused on strengthening and developing its export business, a strategy that involves improving its processing capacity, marketing and distribution of Chilean fruit to the different markets in which it participates," the release said.

"Copefrut will help growers in upgrading their plantations to be consistent with the new quality requirements that foreign markets have set.

The release said this would also help the business meet its priorities to achieve growth in emerging markets like Russia, India and the Middle East.

In April the company confirmed shareholders had approved a change in the business structure to a closed society, which is a decision still pending registration with the Superintendency of Securities and Insurance (SVS).

"The transformation of Copefrut eliminates administrative costs for the company to avoid demands to send financial, accounting and other types of information, which SVS requires for open societies.

"The relevant information for the decision-making of producers, clients, suppliers, managers and workers will continue to be available, because the policy of Copefrut is to maintain and foster transparent trade relations."

Related story: Chile's Copefrut receives takeover bid

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