Chiquita finalizes sale of ships
June 20, 2007
by FoodBusinessNews.net Staff
CINCINNATI — Chiquita Brands International, Inc. has completed the sale of 12 refrigerated cargo vessels for $227 million.
The proceeds will be used to pay off about $170 million in debt and the rest will be used for general business uses, including growth investments and future debt repayments.
The ships are chartered back from an alliance Eastwind Maritime Inc. and NYKLauritzenCool AB, and the parties entered a strategic agreement for the alliance to serve as Chiquita’s preferred supplier in ocean shipping between Europe and North America.