City of Industry, CA --(www.USEquityNews.com)-- 10/30/2007 - Farm Products industry alert provided by U.S. Equity News. Fruit and salad distributor Chiquita Brands International (NYSE: CQB), struggling to boost profits amid higher costs and worries over food safety, said recently that it will cut management and production jobs, close facilities and leave businesses as part of a plan to reduce costs by $60 million to $80 million a year. Chiquita will take a $25 million charge for severance and write-downs this quarter but will begin seeing benefits in 2008, the company said. Chiquita said it will eliminate 160 management jobs worldwide, a 21 percent reduction at the three highest levels, and will simplify an organizational structure that will be realigned by geography instead of product line.

US Farms, Inc. (OTCBB: USFI), a diversified Farming and Nursery company, recently became a member of the San Diego Farm Bureau. The Farm Bureau of San Diego County (www.sdfarmbureau.org) is a non-profit organization supported solely by more than 7,000 dues-paying members. Established in 1913, the Farm Bureau serves the needs of the agriculture community through public relations, education and public policy advocacy.

Archer Daniels Midland Company (NYSE: ADM) has formed an industrial chemicals group with a focus on dramatically increasing ADM's presence in industrial markets. This business will leverage ADM's processing expertise, fermentation and separation technologies and global distribution network to expand ADM's product offerings in industrial chemicals by working to commercialize additional chemicals from renewable feedstocks. To lead the new industrial chemicals business, ADM has hired Janet Mann as general manager, Industrial Chemicals, reporting to Rice.

Fertilizer producer and distributor CF Industries Holdings Inc. (NYSE: CF) said recently its third-quarter profit soared, as higher-than-expected demand for fertilizers supported pricing improvements. The results came in well ahead of Wall Street predictions, sending CF shares up sharply in aftermarket trading. CF Industries earned $86.5 million, or $1.52 per share, compared with $7.3 million, or 13 cents per share, for the same quarter in 2006.
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