Dole Food Company Inc. (NYSE:DOL) Friday (2 February) announced that it will be closing its Cool Care Inc. subsidiary during the course of this year.
Cool Care is a 14-year-old company that designs and constructs ripening and cold storage facilities. Cool Care will complete all outstanding contracts and work orders during the course of this year, but will not be bidding for any new work.
This closure is in line with previously announced plans by Dole to sell or close non-core assets and under-performing businesses. Dole will maintain its separate technical services group that provides customer assistance and support for ripening facilities, as well as training in the proper handling of perishable products.
Dole Food Company Inc., with 2000 revenues of $4.8 billion, is the world’s largest producer and marketer of high-quality fresh fruit, fresh vegetables and fresh-cut flowers, and markets a growing line of packaged foods.
This release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. Forward looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms such as “will,” “expects,” “anticipates,” and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include weather-related phenomena; market responses to industry volume pressures; product and raw materials supplies and pricing; changes in interest and currency exchange rates; economic crises in developing countries; and quotas, tariffs and other governmental actions. Further information on the factors that could affect Dole’s financial results is included in its Securities and Exchange Commission filings, including its Annual Report on Form 10-K.
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