BUSINESS BRIEFS
New mac nut deals formed
Advertiser Staff
ML Macadamia Orchards LP said yesterday that it has entered two separate agreements to sell macadamia nuts to Mac Farms of Hawaii LLC and Purdyco International Ltd.
ML Macadamia said it will sell 4.5 million to 5.5 million, wet-in-shell, pounds annually to Mac Farms and about 2 million pounds annually to Purdyco, which does business as Island Princess. Both contracts are effective Jan. 1, 2007, and run for five years. The nut price will be determined every six months based on prevailing market prices for Hawai'i and Australia.
ML Macadamia Orchards currently sells its macadamia nuts exclusively to Mauna Loa Macadamia Nut Corporation, a subsidiary of Hershey's. Four of ML Macadamia's five contracts with Hershey's expire Dec. 31. ML Macadamia's two new contracts will replace some of what's sold to Mauna Loa, the company said.
HPU HAS NEW FINANCIAL OFFICER
Lloyd Fujie has joined Hawai'i Pacific University as vice president and chief financial officer.
Fujie previously worked at Deloitte & Touche, LLP for 32 years, including 10 years as Managing Partner in Hawai'i. His clients have included Alexander & Baldwin, Kamehameha Schools, Maui Land & Pineapple Company, Queen's Health Systems, and Servco Pacific.
BLUE LAVA, FERRY WIN AWARDS
The Hawaii Venture Capital Association yesterday announced that Hawai'i Superferry will be honored with the group's "Deal of the Year" award at a Jan. 26 ceremony. This year's winner of the group's "Exit of the Year" award is Blue Lava Wireless.
Hawai'i Superferry completed debt and equity transactions in excess of $200 million. Blue Lava was acquired by Jamdat last summer for $137 million.
BID FOR GUIDANT STILL ON TABLE
BOSTON — Boston Scientific Corp. said yesterday that it would take a year longer than anticipated to see earnings gains from its proposed acquisition of Guidant Corp.
The company said it's sticking to its $25 billion offer price because it's confident it can restore trust in Guidant's lucrative pacemaker and defibrillator business.
