What are the longer-term growth prospects for Apio’s food business?
Even with the current economic pressures, we believe that in the long term we have a 10% or more per year revenue growth opportunity in our fresh-cut vegetable business by capturing new customers and expanding our BreatheWay technology to new markets and application areas. Our longer-term growth plans for our food technology business include four major initiatives: a) Develop and launch new, innovative products such as those we are developing in our vegetable salad line. b) Expand the use of our BreatheWay technology internationally, such as the agreement we have with Breakthrough Solutions LLC for the use of our packaging technology in South America. c) Access unique produce with traits that bring discernible differentiation in nutrition, taste, color, aroma and/or texture. We will do this through our exclusive licensing arrangement for value-added, fresh-cut broccoli and cauliflower with Monsanto Seminis, the world’s largest vegetable seed trait developer and supplier. Field trials a
