FYFFES FARMS EXPOSED the Fight for Justice in the Honduran Melon Fields

Total Page:16

File Type:pdf, Size:1020Kb

FYFFES FARMS EXPOSED the Fight for Justice in the Honduran Melon Fields FYFFES FARMS EXPOSED The Fight for Justice in the Honduran Melon Fields APRIL 2020 This is a joint publication by the International Labor Rights Forum, the International Union of Food Workers (IUF) Latin America Regional Secretariat (Rel UITA), and Fair World Project, with support from 3F International. Authors: Liana Foxvog and Gabriela Rosazza Layout: Sarah Newell The authors are very grateful to Ahrax Mayorga, Anna Canning, Paul Lievens, Esmeralda Lopez, and Laura Vera for their review of early drafts of the report and to Winston Moore for corporate research. The report and the photos by ILRF contained within it are made available under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) license and is available for download at www.laborrights.org/fyffeshondurasreport. All unattributed photos in the report were taken by ILRF. Cover photo credits: ILRF (top) and Giorgio Trucchi, Rel-UITA (bottom) Published: April 2020 International Labor Rights Forum 1634 I St NW, Suite 1000 Washington, DC 20006 USA T: +1 202 347 4100 [email protected] www.laborrights.org Regional Latinoamericana de la UITA (Rel-UITA) International Union of Food Workers (IUF) Latin America Regional Secretariat Wilson Ferreira Aldunate 1229 – 201 CP. 11.100 | Montevideo, Uruguay T: +598 2900 7473 www.rel-uita.org Fair World Project PO Box 86104 Portland, OR 97286 USA T: +1 800 631 9980 [email protected] www.fairworldproject.org 3F - United Federation of Workers in Denmark Kampmannsgade 4 1790 København V, Denmark T: +70 300 300 [email protected] www.3f.dk 02 TABLE OF CONTENTS I. EXECUTIVE SUMMARY . 05 II. HONDURAN MELON INDUSTRY AND FYFFES . 06 Honduran melon industry Fyffes’ melon business in Honduras Fyffes, an empire of acquisitions and subsidiaries III. WORKING CONDITIONS AT FYFFES HONDURAS. 10 Documentation and reporting Precarious work Wage theft, irregular schedules, and denial of monetary benefits Non-payment of social security Toxic chemicals Occupational injuries Gender-based violence and discrimination Repression of worker voice IV. FYFFES’ RESPONSES TO UNION ORGANIZING . 20 Threats and coercion Stalling and appealing Collusion and corruption Retaliation and firings Forming fake unions Corporate white-washing and smokescreens V. RESPONSES FROM SUPERMARKETS, CERTIFIERS, AND GOVERNMENTS. 36 Government of the United States Ethical Trading Initiative Fair Trade USA Supermarkets International Labour Organization VI. CONCLUSION. 40 ENDNOTES . 42 03 The fight on the Honduran melon farms is a microcosm of the international worker struggle – a struggle against a system that keeps people in poverty while extracting massive profit for corporations. Violence against trade unionists and other human rights defenders in Central America directly contributes to a lack of decent work in the region, one of the many factors that fuels the cycle of poverty and pushes people to migrate. While every human has a right to seek asylum, they also have a right to stay in their communities, feel safe at work, and earn a living wage. Photo04 credit: Giorgio Trucchi, Rel-UITA EXECUTIVE SUMMARY Thousands of miles away from U.S. supermarket Moisés, threatening to murder him if he continued shelves, the melon workers of southern Honduras are in the union. The Sánchez brothers survived the standing up to a global fruit giant that has long used attack, but the crime remains unpunished, sending their labor but never respected their rights. an undeniable message to every worker who has seen their colleagues persecuted for speaking out. Fyffes is the billion-dollar fruit company that most Americans have never heard of. They are the top During the 2019-2020 growing season, workers importer of melons to the United States, which are at Fyffes’ farms in Honduras continue to report sold in supermarkets across the country. They are blatant violations of their legally-guaranteed rights, also the number one supplier of bananas into Europe. including the dangerous misuse of toxic pesticides, denial of sick leave, the company’s failure to enroll For more than a decade, Honduran workers have its seasonal workers in the national healthcare and reported rampant wage theft, inhumane working pension system, and coercion to force them to leave conditions, and exposure to toxic agrochemicals on STAS and join a company-controlled union that was Fyffes’ melon farms. founded by management, in order to destroy genuine worker organizing. Fyffes employs over 6,500 melon workers in Honduras, the majority of whom are women in This report reviews the history of Fyffes’ labor seasonal jobs. In 2016, these workers decided to violations in Honduras, the ongoing abuses, and address their longstanding issues by organizing the response from Fyffes, which includes silencing a union with El Sindicato de Trabajadores de la workers’ lived experiences by deploying futile Agroindustria y Similares (STAS). In response, local corporate social responsibility programs that distract bosses fired and blacklisted dozens of outspoken supermarkets and consumers from the reality on the union leaders and launched a violent union-busting farms. Until Fyffes acknowledges its history of worker campaign – physically, verbally, and psychologically exploitation in Honduras and takes responsibility to harassing union members. remedy the injustices – specifically by negotiating in good faith with STAS to sign a legally-binding and The violence peaked in April 2017 when unknown enforceable agreement to uphold workers’ rights – assailants attacked Moisés Sánchez, the STAS union thousands of farmworkers will continue to experience local’s Secretary-General, and his brother Misael. exploitation in the fields. They sliced Misael’s face with a machete and beat 05 HONDURAN MELON INDUSTRY AND FYFFES Honduran melon industry States remains the largest market for Honduran Honduras’ main agricultural exports are coffee, melons, while access to new markets in Japan, bananas, sugarcane, shrimp, melons, and palm oil. Taiwan, Chile, and Mexico are contributing to the The melon industry employs at least 68,000 people growth. The top importer of melons into the United directly and indirectly.1 At $110 million in exports, States is the multinational corporation Fyffes, melons accounted for a fifth of the country’s which is a conglomerate of subsidiaries owned by agricultural export earnings in 2019,2 for an increase Sumitomo Corporation, a publicly-held Japanese 4 of $38 million from the previous one.3 The United parent company. Fyffes’ melon business in Honduras Fyffes produces melons across 17,500 acres of Poverty in Southern Honduras farmland in Honduras and Guatemala.5 Its • Honduras is the second poorest Honduran farms are located in Choluteca, where country in Central America Fyffes has a workforce of at least 6,500 employees, • With a population of 9.8 million over 90% of whom are seasonal workers hired on people, 64% live below the poverty temporary contracts and 80% of whom are women.6 line with 1.6 million people in extreme They produce cantaloupes, honeydews, and mini poverty, surviving on less than $1.90 a watermelons on two subsidiary plantations, day11 • Honduras has a 44% Suragroh and Melon Export, with the annual underemployment rate growing season starting at the end of November • Southern Honduras is comprised of and lasting until the end of May.7 Fyffes reports the departments of Choluteca and that it operates a fully integrated supply chain, Valle with a population of about controlling all operational steps in the production 750,000 people, and jobs are mainly and distribution process, and ships the melons into in the melon, sugarcane, shrimp, 8 okra, and mining sectors nine different ports in the United States. These • Choluteca has the highest level of melons, with Fyffes or Sol labels, are sold in the income inequality in the country United States by major supermarket chains such as and the second highest percentage Giant, Kroger, Publix, and Safeway, as well as smaller of people living in poverty in the grocery stores. Fyffes exported nine million boxes 12 country of melons from Honduras in the 2018-2019 season,9 • Malnutrition affects one in three making melons from Honduras nearly ten percent people in Choluteca13 of the company’s annual volume of shipments for bananas, pineapples, and melons combined.10 06 “It is extremely painful and horrendous to watch such a hypocritical EU-based multinational company – which claims high ethical standards – act as the most monstrous, ultra- reactionary union-busting employer in Honduras. Fyffes is spearheading a fight against a union that achieved the historic milestone of organizing poor farmworkers as an industry union in Honduras. In early 2019, Fyffes signed an agreement with STAS to start collective bargaining, but immediately reneged. The global trade union movement can never forgive this. The only viable solution is for Fyffes to negotiate in good faith with STAS.” – Jesper Nielsen, Head of Department, 3F International 07 Fyffes, an empire of acquisitions and subsidiaries Fyffes is the oldest fruit brand in the world. exchanges.15 Fyffes’ annual revenue in 2018 was Founded in London in 1888 as a banana $1.3 billion.16 company, it is now headquartered in Dublin. Today, Fyffes is the fourth largest banana In 2005, Fyffes acquired half of Turbana – a company in the world after Chiquita, Dole, pineapple, banana, plantain, and tropical fruit and Del Monte.14 Fyffes is the top importer company – making Fyffes the fifth largest banana of bananas into Europe, the largest offshore supplier to the U.S. market.17 producer of melons sold in the United States, and a leading producer of pineapples, In 2007, Fyffes acquired Sol Group Marketing plantains, and mushrooms. Fyffes’ operations Company, a melon producer based in Florida, span Europe, North America, Central America, and soon became the largest importer of off- and South America. In 2017, the Japanese shore melons into the United States. Sumitomo Corporation acquired Fyffes for €751 million, taking the company private and In 2015, Fyffes acquired Fresh Quest, a main delisting it from the Dublin and AIM stock melon competitor to Sol Group.
Recommended publications
  • CDP Ireland Climate Change Report 2015
    1 CDP Ireland climate change report 2015 Irish Companies Demonstrating Leadership on Climate Change ‘On behalf of 822 investors with assets of US$95 trillion’ Programme Sponsors Report Sponsor Ireland partner to CDP and report writer 2 3 Contents 04 Foreword by Paul Dickinson Executive Chairman CDP 06 CDP Ireland Network 2015 Review by Brian O’ Kennedy 08 Commentary from SEAI 09 Commentary from EPA 10 Irish Emissions Reporting 12 Ireland Overview 14 CDP Ireland Network initiative 16 The Investor Impact 17 The Climate A List 2015 19 Investor Perspective 20 Investor signatories and members 22 Appendix I: Ireland responding companies 23 Appendix II: Global responding companies with operation in Ireland 27 CDP 2015 climate change scoring partners Important Notice The contents of this report may be used by anyone providing acknowledgement is given to CDP Worldwide (CDP). This does not represent a license to repackage or resell any of the data reported to CDP or the contributing authors and presented in this report. If you intend to repackage or resell any of the contents of this report, you need to obtain express permission from CDP before doing so. Clearstream Solutions, and CDP have prepared the data and analysis in this report based on responses to the CDP 2015 information request. No represen- tation or warranty (express or implied) is given by Clearstream Solutions or CDP as to the accuracy or completeness of the information and opinions contained in this report. You should not act upon the information contained in this publication without obtaining specific professional advice. To the extent permitted by law, Clearstream Solutions and CDP do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this report or for any decision based on it.
    [Show full text]
  • Glanbia Plc 2009 Annual Report
    Glanbia plc 2009 Annual Report Glanbia plc Glanbia plc, Glanbia House, Tel +353 56 777 2200 Kilkenny, Ireland. Fax +353 56 777 2222 www.glanbia.com 2009 Annual Report Cautionary statement The 2009 Annual Report contains forward-looking statements. These statements have been made by the Directors in good faith, based on the information available to them up to the time of their approval of this report. Due to the inherent uncertainties, including both economic and business risk factors, underlying such forward- looking information, actual results may differ materially from those expressed or implied by these forward-looking statements. The Directors undertake no obligation to update any forward- looking statements contained in this report, whether as a result of new information, future events, or otherwise. Get more online www.glanbia.com Glanbia plc 2009 Annual Report Contents 1 Overview of Glanbia Introduction 2 Financial results 3 Glanbia at a glance 4 Directors’ report: Business review Chairman’s statement 6 Group Managing Director’s review 8 International growth strategy 10 Operations review US Cheese & Global Nutritionals 14 Dairy Ireland 16 Joint Ventures & Associates 18 Finance review 22 Risk management 28 Our responsibilities 30 Our people 31 Directors’ report: Corporate governance Board of Directors 34 Statement on corporate governance 36 Statement on Directors’ remuneration 46 Other statutory information 54 Statement of Directors’ responsibilities 55 Financial statements Independent auditors’ report to the members of Glanbia
    [Show full text]
  • Introduction of a Central Counterparty at Irish Stock Exchange Information for Production Start
    eurex circular 2 41/05 Date: Frankfurt, November 30, 2005 Recipients: All Eurex members, CCP members and vendors Authorized by: Daniel Gisler Introduction of a Central Counterparty at Irish Stock Exchange Information for Production Start Related Eurex Circulars: 057/05, 230/05 Contact: Customer Support, tel. +49-69-211-1 17 00 E-mail: [email protected] Content may be most important for: Attachment: Ü Front Office / Trading Updated List of CCP-eligible Securities for ISE Ü Middle + Back Office Ü Auditing / Security Coordination With this circular we complement information on the introduction of a Central Counterparty for the Irish stock market scheduled for next Monday, December 5, 2005. The Central Counterparty (CCP) for securities traded in the Xetra order book at Irish Stock Exchange (ISE) originated from a common initiative of Irish Stock Exchange, Euroclear/CRESTCo Limited and Deutsche Börse AG. Eurex Clearing AG, which already renders CCP services for other markets, acts as CCP. The product range for production start on December 5, 2005 comprises Irish stocks and Exchange Traded Funds (ETFs) traded in the Xetra order book at Irish Stock Exchange. Please find attached to this circular an updated list of securities which will be CCP-eligible for ISE effective December 5, 2005. Should you have any questions or require further information, please feel free to contact the Customer Support Team at tel. +49-69-211-1 17 00. Eurex Clearing AG Customer Support Chairman of the Executive Board: Aktiengesellschaft mit Sitz D-60485 Frankfurt/Main Tel. +49-69-211-1 17 00 Supervisory Board: Rudolf Ferscha (CEO), in Frankfurt/Main www.eurexchange.com Fax +49-69-211-1 17 01 Dr.
    [Show full text]
  • Case No COMP/M.7220 - CHIQUITA BRANDS INTERNATIONAL/ FYFFES
    EN Case No COMP/M.7220 - CHIQUITA BRANDS INTERNATIONAL/ FYFFES Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) in conjunction with Art 6(2) Date: 03/10/2014 In electronic form on the EUR-Lex website under document number 32014M7220 Office for Publications of the European Union L-2985 Luxembourg EUROPEAN COMMISSION Brussels, 3.10.2014 C(2014) 7268 final In the published version of this decision, some information has been omitted PUBLIC VERSION pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general MERGER PROCEDURE description. To the notifying parties: Dear Sir/Madam, Subject: Case M.7220 - Chiquita Brands International/ Fyffes Commission decision pursuant to Article 6(1)(b) in conjunction with Article 6(2) of Council Regulation No 139/20041 (1) On 14 August 2014, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which the undertaking Chiquita Brands International, Inc. ("Chiquita", the United States) and the undertaking Fyffes plc ("Fyffes", Ireland) merge within the meaning of Article 3(1)(a) of the Merger Regulation (the "Transaction"). Chiquita and Fyffes are collectively referred to as the "Notifying Parties". 1. THE NOTIFYING PARTIES AND THE TRANSACTION (2) Chiquita is a US-based global importer and wholesaler of fresh produce, in particular bananas. In the EEA Chiquita's activities also include the supply of pineapples and other fruit, as well as the provision of banana ripening and shipping services to third 1 OJ L 24, 29.1.2004, p.
    [Show full text]
  • Irish Foodservice Market Directory
    Irish Foodservice Market Directory NOVEMBER 2014 Growing the success of Irish food & horticulture www.bordbia.ie TABLE OF CONTENTS Page No. IRISH FOODSERVICE MARKET DIRECTORY 5 Introduction 5 How to use the Directory 5 Methodology 6 TOP 10 PRODUCER TIPS FOR BUILDING A SUCCESSFUL FOODSERVICE BUSINESS 7 FOODSERVICE MAP 9 COMMERCIAL CHANNELS 11 QUICK SERVICE RESTAURANTS (QSR) 13 AIL Group 14 Domino’s Pizza 18 McDonald’s 21 Subway 24 Supermac’s 26 FORECOURT CONVENIENCE 29 Applegreen 30 Topaz 32 FULL SERVICE RESTAURANTS (FSR) 35 Avoca Handweavers 36 Brambles 39 Eddie Rocket’s 42 Entertainment Enterprise Group 45 Itsa 49 Porterhouse Brewing Company 53 Wagamama 55 COFFEE SHOPS 59 BB’s Coffee and Muffins 60 Butlers Chocolate Café 62 Esquires Coffee House 64 Insomnia 66 MBCC Foods (Ireland) Ltd. T/A Costa Coffee *NEW 68 Quigleys Café, Bakery, Deli 70 streat Cafes (The) 72 HOTELS 75 Carlson Rezidor Hotel Group 76 Choice Hotels Ireland 80 Dalata Management Services 82 The Doyle Collection 87 Limerick Strand Hotel 89 Moran & Bewley’s Hotels 92 PREM Group 95 Talbot Hotel Group *NEW 98 Tifco Hotel Group 100 1 LEISURE/EVENTS 103 Dobbins Outdoor 104 Feast 106 Fitzers Catering Ltd 108 JC Catering 111 Masterchefs Hospitality 113 Prestige Catering Ltd 115 The Right Catering Company 117 With Taste 119 TRAVEL 123 Aer Lingus Catering 124 EFG Catering 128 Gate Gourmet Ireland 131 HMS Host Ireland Ltd 133 Irish Ferries 135 Rail Gourmet 138 Retail inMotion 140 SSP Ireland 142 INSTITUTIONAL (COST) CHANNELS 145 BUSINESS & INDUSTRY (B&I) 147 ARAMARK Ireland 148 Baxter Storey 151 Carroll Foodservices Limited 153 Compass Group Ireland 155 Corporate Catering Services Limited 157 Gather & Gather *NEW 160 KSG 162 Mount Charles Group *NEW 164 Premier Dining 167 Q Café Co.
    [Show full text]
  • Recommended Cash Offer for FYFFES by Sumitomo Corp (PDF/410KB)
    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION THIS ANNOUNCEMENT IS BEING MADE PURSUANT TO RULE 2.5 OF THE IRISH TAKEOVER RULES THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE 9 December 2016 RECOMMENDED CASH OFFER for FYFFES PLC by SWORDUS IRELAND HOLDING LIMITED A WHOLLY-OWNED SUBSIDIARY OF SUMITOMO CORPORATION TO BE IMPLEMENTED BY WAY OF A SCHEME OF ARRANGEMENT UNDER CHAPTER 1 OF PART 9 OF THE COMPANIES ACT 2014 Summary Sumitomo Corporation (“Sumitomo”) and Fyffes plc (“Fyffes”) are pleased to announce that they have reached agreement on the terms of a unanimously recommended cash offer by Sumitomo pursuant to which Swordus Ireland Holding Limited (“Bidco”), a wholly-owned subsidiary of Sumitomo, will acquire the entire issued and to be issued share capital of Fyffes. Under the terms of the Acquisition, Fyffes Shareholders will be entitled to receive: for each Fyffes Ordinary Share €2.23 in cash The Acquisition values the entire issued and to be issued ordinary share capital of Fyffes at approximately €751,365,470. The Acquisition represents a premium of approximately: o 49% to Fyffes’ closing share price of €1.50 on 8 December 2016 (being the last practicable date prior to the publication of this Announcement); o 53% to Fyffes’ volume weighted average share price of approximately €1.46 over the 30 trading day period ending 8 December 2016; o 52% to Fyffes’ volume weighted average share price of approximately €1.47 over the 90 trading day period ending 8 December 2016; and 1 o 37% to Fyffes’ all-time high share price1 of €1.62, which occurred on 22 April 2016.
    [Show full text]
  • Annual Report 2005
    A world of dairy foods and nutritional ingredients Annual Report 2005 CONTENTS Page 2 Glanbia Market Positions and Global Locations 4 Divisions and core activities 5 Financial highlights 6 Chairman’s Review 8 Group Managing Director’s Review 12 Operations Review Agribusiness and Property 16 Consumer Foods 22 Food Ingredients 28 Nutritionals 30 International Joint Ventures 34 Corporate Social Responsibility 36 Finance Review 38 Directors and Advisors 41 Report of the Directors 49 Financial Statements Glanbia market positions USA NO.1 US A Barrel Cheese Supplier NO.1 Whey Protein Isolate Supplier NO.3 American Cheddar Cheese Supplier CHICAGO IDAHO Glanbia’s strategy is to build international relevance in cheese, NEW MEXICO MEXICO Global Leading supplier of advanced technology whey proteins and fractions and global locations Ireland NO.1 Dairy Processor NO.1 Liquid Milk and Cream Brands NO.1 Cheese Processor NO.1 Pigmeat Processor IRELAND UK GERMANY dairy-based nutritional ingredients and selected consumer foods. Europe NO.1 Pizza Cheese Supplier CHINA NO.1 Supplier of Key Customised Nutrient Premixes NIGERIA 4 GLANBIA PLC ANNUAL REPORT 2004 Glanbia plc, the international dairy foods and nutritional ingredients Group Glanbia plc has operations in Ireland, Europe and the USA, with International joint ventures in the UK, USA and Nigeria. The Group is organised into three operating divisions of Agribusiness & Property, Consumer Foods and Food Ingredients, which includes the evolving Nutritionals business. Agribusiness & Property Consumer Foods Food Ingredients 12.52% of Group Turnover 26.97% of Group Turnover 60.51% of Group Turnover 13.26% of Group Operating Profit 33.68% of Group Operating Profit 53.06% of Group Operating Profit 12.52% 13.26% 26.97% 33.68% 60.51% 53.06% Agribusiness is the primary Glanbia Consumer Foods This division has operations interface whereby Glanbia trades incorporates liquid milk, chilled of scale in Ireland and the USA with its 5,700 Irish farmer suppliers.
    [Show full text]
  • Creating Impact – Achieving Results
    30% Club Ireland CEO & Chairs Third Annual Conference Creating Impact – Achieving Results 25 January 2017 #30pcImpact National Gallery of Ireland Clare Street, Dublin 2 3.45pm Registration 4pm Seminar 6:15-7.30pm Reception & Networking @30percentclubIE www.30percentclub.org 30% Club Ireland Creating Impact Achieving Results 25 January 2017 2 Creating Impact Achieving Results 25 January 2017 Agenda 4.00pm Opening Remarks An Tánaiste and Minister for Justice and Equality, Frances Fitzgerald TD 4.15pm Welcome Marie O’Connor, Partner, PwC, Country Lead, 30% Club Ireland 4.25pm Painting the Picture: Research Update 2016 Facilitator: Conor O’Leary, Group Company Secretary, Greencore Anne-Marie Taylor, Management Consultant - Women in Management and Women on Boards: the Irish picture Darina Barrett, Partner, KPMG - The Think Future Study 2016 Dr Sorcha McKenna, Partner, McKinsey – Women Matter: Women in the Workplace 2016 4.45pm Sasha Wiggins introduces Lady Barbara Judge Sasha Wiggins, CEO, Barclays Bank Ireland introduces Lady Barbara Judge, Chair, Institute of Directors 5.00pm Taking Action Facilitator: Melíosa O’Caoimh, Senior Vice President, Northern Trust Anne Heraty, CEO, CPL Resources and President of Ibec Gareth Lambe, Head of Facebook Ireland Pat O’Doherty, CEO, ESB Brian O’Gorman, Managing Partner, Arthur Cox 5.25pm Leadership Commitment and Accountability - Perspective of the Chair Facilitator: Bríd Horan, Former Deputy CEO, ESB Rose Hynes, Chair, Shannon Group and Origin Enterprises Gary Kennedy, Chair, Greencore Gary McGann, Chair, Paddy Power Betfair 5.45pm Diplomacy, Diaspora and Diversity Anne Anderson, Ambassador of Ireland to the United States 6.00pm Future Plans & Closing Remarks Carol Andrews, Global Head of Client Service and Prime Custody (AIS), BNY Mellon Please note that this is an on the record event and views expressed are not necessarily representative of all 30% Club members.
    [Show full text]
  • Bananas Before Plantations. Smallholders, Shippers, and Colonial Policy in Jamaica, 1870-1910
    Rev23-01 30/8/06 23:25 Página 143 John Soluri* ➲ Bananas Before Plantations. Smallholders, Shippers, and Colonial Policy in Jamaica, 1870-1910 Recent trade disputes between the European Union and the United States over bananas have served to emphasize the differences between the “dollar zone” commodity system based on Latin American banana exports to the United States and Europe, and the “ACP system,” based on European imports of bananas produced in former colonies in Africa, the Caribbean, and the Pacific. The key difference often identified by analysts is the dominant role played by vertically integrated U.S. banana corporations in Latin America in contrast to the ACP production system in which state-sponsored associations of small-scale growers receive preferential access to European markets (Raynolds 2003: 23-47). There can be little doubt that the reorientation of Caribbean producers toward Europe following the Second World War marked a moment when the banana commodity system in that region diverged from that of Latin America. However, the tendency of researchers to focus on twentieth-century banana trades has had the unintended effect of obscuring the trades’ origins in the late nineteenth century, a period when a sharp divide between Caribbean and Latin American commodity systems did not exist. Indeed, it is easy to forget that the roots of the United Fruit Company (today known as Chiquita Brands International) lie in both the Caribbean and Central America. This article re-examines the emergence of export banana production in Jamaica
    [Show full text]
  • Glanbia Plc Annual Report 20 10 Glanbia Plc Is an International Nutritional Solutions and Cheese Group, Headquartered in Ireland
    Glanbia plc plc Glanbia Annual Report 2010 Annual Report Glanbia plc Annual Report 20 10 Glanbia plc is an international nutritional solutions and cheese group, headquartered in Ireland. Glanbia is listed on the Irish and London Stock Exchanges (Symbol: GLB). The Group has four segments; US Cheese & Global Nutritionals, Dairy Ireland, Joint Ventures & Associates and Other Business. Including Joint Ventures & Associates, Glanbia has over 4,300 employees worldwide and has manufacturing and processing facilities in seven countries and sales/technical support locations in 14 countries. Get more online For more information on the Group please visit our corporate website: www.glanbia.com This report is also available online: www.glanbia.com/annualreport2010 3 10 Overview Our strategy 3 How we did in 2010 10 Our strategy 4 Our performance 11 Our markets 5 Key Performance Indicators 6 Our global footprint 9 How we are structured 12 36 Group performance Divisional performance 12 Chairman’s statement 36 US Cheese & Global Nutritionals 16 Group Managing Director’s review 38 Dairy Ireland 20 Our business models 40 Joint Ventures & Associates 22 Group Finance Director’s review 27 Risk management 31 Our responsibilities 42 72 Governance Financial statements 42 Chairman’s introduction to corporate governance 74 Independent auditors’ report 44 Board of Directors and senior management 76 Group income statement 48 Applying the principles of the Combined Code 77 Group statement of comprehensive income 54 Other statutory information 78 Group statement of
    [Show full text]
  • Total Produce Annual Report & Accounts 2020
    Total Produce Annual Report & Accounts 2020 Our Values Total Produce is proud of the diversity and cultural differences apparent throughout our global operations. There are, however, key core values and priorities that are shared across all of our businesses which define who we are and how we do business. Grounded Different We’re Down To Earth. We’re Local at Heart, We’re Honourable. Global by Nature. We’re Nothing Without We Bring Local Our Growers, Our Partners, Expertise. We Deliver Dif Our People, Our Customers fer Global Strength. & Our Consumers. en We Deliver The Best t Of Both Worlds. ded Responsible un ro We’re Accountable; G For Our Performance, Our Quality, Our Collaborative Produce, Our Service. C We Partner. We Listen. o e We Share. We Make l We Are Committed; l l Things Happen. b a To The Environment i We Get Things Done. b And To The s o We Grow Together. Communities In n r o We are... Which We Grow a p t s And Operate. i v e e R e v ti va nno P I as Passionate sio We Care. nat Innovative We Love What We Do. e We’re Imaginative. We Love What We Sell. We’re Flexible. We Embrace Challenges. We’re Resourceful. We Relish Opportunities. We Go The Extra Mile. We Seize The Moment. We Always Find A Way. Our Vision Our vision is to continue to develop our position as one of the world’s leading fresh produce companies whilst delivering long-term stakeholder value. 1 Local at Heart, Global by Nature Total Produce is at the forefront of the global fresh produce industry.
    [Show full text]
  • Total Produce Buy (Not Rated)
    F Equity Research Full report Q&A Report United Kingdom $BloombergCode$ QA_CR Total Produce Buy (Not Rated) Ireland | Food | MCAP EUR 911.4m Target Price EUR 2.70 (none) Current Price EUR 2.35 Up/downside 14.9% Change in TP none This report is intended for [email protected]. Unauthorized redistribution of this prohibited 05 March 2018 Change in EPS -14.9% 18E / 7.9% 19E Q. Is the Dole deal the way to go? On 1 February, Total Produce announced the acquisition of a 45% stake in the privately-owned Dole Food Company for USD300m in cash. In addition, Total Produce has the right to gradually acquire the remaining 55% for set prices. Is this transformational deal (Dole’s EBITDA is double that of Total Produce) a step in the right direction? A. Dole is a ticket to the tropics We believe there is a clear strategic rationale for getting a foot in the door at Dole, as it will allow Total Produce to diversify its activities into higher- growth regions (North America makes up 61% of Dole’s sales vs. 25% for Total Produce) and categories (tropical fruit, c. 50% of Dole’s portfolio). Furthermore, this deal is set to give Total Produce a foothold in the most iconic fresh produce brand worldwide. From a financial standpoint, we believe the deal (especially the right to eventually acquire all of the shares in Dole) will generate strong financial returns (c. 30% accretion to the group’s DCF value), as a comparison of businesses implies clear upward potential in terms of operational management.
    [Show full text]