Sumifru expanding Davao banana plantation
April 21, 2010 8:09 pm
MANILA, April 21 — Sumifru Inc., a joint venture of Sumitomo Corp. of Japan and businessman Paul Cuyegkeng, is establishing a special agro-industrial economic zone in Davao City to beef up its banana and vegetable exports.
Company adviser Miguel Varela told reporters at the sidelines of the conclusion of the two-day 31st National Employers Conference at the Manila Hotel Wednesday the company is expanding its existing banana plantation in Davao City.
The company is expanding its Davao banana plantation with P5.5 billion worth of investments. In 2004, Sumifru poured in P2.1 billion for the existing Davao farm.
Varela said the companys proposed special agro-industrial economic zone has been approved by the Philippine Economic Zone Authority (PEZA) and is just awaiting Malacanangs signature for its proclamation.
Cuyegkeng is a former head of the Dole Philippines, the countrys biggest exporter of pineapples. Now, Sumifru is the countrys biggest exporter of Cavendish bananas. It is the biggest exporter of Cavendish bananas to Japan.
Sumifru Corporation enjoys the Sumitomo "Integrated Corporated Strength," an integrated corporate strength that comes from synergies of talents of more than 30,000 group employees, each of whom has the expertise in his/her field to create and implement new businesses. Aside from producing bananas, Sumifru is also engaged in the sourcing, shipment, distribution, and marketing of fresh fruits, specially the giant cavendish bananas, of the highest quality. (PNA) scs/BAC/utb