Chiquita: Merger would save company $20M per year

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CHARLOTTE, N.C. —

Chiquita and Fyffes announced overnight that their merger would be worth more than originally thought.

The companies said they would save $20 million per year by combining its shipping, logistics and technology.

They said that would bring its estimated annual savings up to $60 million.

Shareholders are scheduled to vote on the merger next month. If approved, Chiquita said it would move its headquarters out of Charlotte but keep most of the jobs in the Queen City.