NEW PORT HANDLES BUNCHES OF TRADE

After two years intensive construction, the month of August 2002 saw the official inauguration of the Dole Food Company Inc.’s new banana terminal, known as Bananapuerto, in the Isla Trinitaria area of Guayaquil. The US$30 million project, which has been guaranteed by World Bank-affiliate MIGA, is the first project in Ecuador’s transportation sector to receive this kind of international investor backing.

Accessible by two major highways and with two piers available to service vessels, the 11-hectare site has been praised by experts as the world’s most advanced fruit shipment terminal. The port is expected to eventually handle more than 35 million boxes of bananas and other export produce every year, with an estimated value of around US$200 million, and is set to be an investment magnet.

Just one year after the commencement of operations, the port was functioning at around 60% of capacity and port-related activity had created around 250 new local jobs. It is hoped that the new terminal will contribute to increasing foreign exchange inputs and consolidating dollarization, in addition to providing a major boost to the nation’s fruit production.

A HEALTHY AND ENTERPRISING LIFESTYLE

DAVID H. MURDOCK Chairman and CEO of Dole

The life and times of David H. Murdock could well represent the epitome of the American success story. And, without doubt, the finalization of a US$2.5-billion merger and subsequent privatization of the 152-year-old Dole Food Company Inc. at the end of March 2003 marks one of the high points of this ninth-grade dropout’s long career.

The foundations of Murdock’s business empire were laid in Phoenix soon after World War II in the construction industry, and a variety of ventures from building materials to petroleum led to outright ownership of the diversified food and real-estate giant Castle & Cooke. In 2003, Murdock was ranked by Forbes as the 140th wealthiest person in the US, with a net worth of more than US$1.5 billion.

Murdock himself is a believer in the importance of a healthy food intake and regular exercise, something he personally practices with daily workouts and a diet composed mostly of fruit, vegetables and fish which, he hopes, will let him live to be 100. His long-term involvement with the “5-a-day for Better Health” program to promote the consumption of fresh produce, and the more recent introduction of wellness programs for the company’s approximately 57,000 full or part time employees, are testimony to the strength of these convictions.

Dole also plans to develop a world-class wellness resort and medical center adjacent to its Westlake Village headquarters in California, which will include a state-of-the-art Nutrition Institute which heads up the company’s research programs in the United States. It seems that Murdock, and the company he owns, are ready to lead the way in helping employees and consumers alike lead healthier lives.