The UniMark Group, Inc. announces letter of intent with The Coca Cola Company, Mexico.ARGYLE, Texas--(BUSINESS WIRE)--May 30, 1996--The UniMark Group, Inc. (Nasdaq NMS See NetWare Management System. symbol: "UNMG") announced today that its newly acquired subsidiary, Grupo Industrial Santa Engracia ("GISE v. t. 1. To feed or pasture. n. 1. Guise; manner. "), a major Mexican producer of citrus concentrates, citrus oils and citrus juices has entered into a letter of intent with The Coca Cola Noun 1. Coca Cola - Coca Cola is a trademarked cola Coke cola, dope - carbonated drink flavored with extract from kola nuts (`dope' is a southernism in the United States) Company, Mexico. This letter of intent contemplates an arrangement by which GISE will plant and grow approximately 12,000 acres of Italian lemons for sale to Coca Cola. In addition, GISE will extract lemon oil from such lemons for Coca Cola. This letter of intent contemplates an initial term of 10 years and that The Coca Cola Company, Mexico will provide the necessary lemon trees. If an agreement is entered into, GISE expects to begin planting such lemon trees in late 1996 with initial production to begin in 1999. Said Mr. Jorn Budde, UniMark's Chief Executive Officer, "We believe that this proposed arrangement will afford GISE with operational benefits by allowing GISE to process lemons during the off season." GISE operates juice plants located in Victoria, Tamaulipas Mexico and Poza Rica Poza Rica (formally: Poza Rica de Hidalgo) is a city and its surrounding municipality in the Mexican state of Veracruz. Its name means "rich well", because it was a place known for its abundance of oil. It has since been almost completely extracted. , Veracruz Mexico in the heart of major citrus growing regions A growing region is an area suited by climate and soil conditions to the cultivation of a certain type of crop. Most crops are cultivated not in one place only, but in several distinct regions in diverse parts of the world. . The UniMark Group, Inc. is a vertically integrated citrus and tropical fruit growing, processing, marketing and distribution company with operations in Mexico, the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. CONTACT: The UniMark Group, Inc., Argyle Jorn Budde, Keith Ford or Jim Drewitz, 817/491-2992 |
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