We are pleased to announce that Princes Limited (Princes), a subsidiary of Mitsubishi Corporation (MC), has made a contract with AR Industrie Alimentari SpA (ARIA), a long-term partner and supplier of tomatoes, to establish a new tomato processing company in Italy named, "Princes Industrie Alimentari SrL" (PIA), of which Princes will acquire 51% of its shares. An agreement has been made for ARIA to transfer its major tomato processing factory and existing commercial rights to PIA.

In the European food sector, there is a firm demand for processed tomato products (mainly canned tomatoes) and the market continues to grow. PIA will acquire ARIA's 120,000

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