PGMA witnesses signing of $500-M contract between RP and Libby's Fruits
New York City --- President Gloria Macapagal-Arroyo witnessed today
the sealing of a Memorandum of Agreement (MOA) between the Philippines
and NTC Marketing, Inc. or Libby's Fruits of New York in simple rites
held at the Waldorf Hotel here.
Trade Secretary and National Development (NDC) Chair Peter Favila
signed in behalf of the Philippine Government and NTC Marketing
Chairman Michael DeRose for Libby's Fruits.
Under the MOA, the Philippines would have a 35-year contract to supply
pineapples from the Bicol region to Libby's Fruits.
The Philippines stands to earn some $500-million from the
implementation of the MOA while some 5,000 farming families would also
Libby's Fruits is produced by NTC, a private company with over 40
years in the food industry, which specializes in tropical fruits,
offering new and innovative solutions to growth,
NTC tropical fruit products include Libby's pineapple, pineapple
juice, tropical fruits that include guava, red and yellow papaya and
sliced mango, tropical mixed fruits and mandarin orange.