US agribusiness giant sets $25-M expansion in Visayas, Mindanao

The Marsman-Drysdale Group, an American company engaged in various interests in the country, is infusing an additional $25 million to beef up its agribusiness venture in the Visayas and Mindanao, Marsman Drysdale Group chairman and chief executive officer George Marsman Drysdale said yesterday.

The Marsman-Drysdale Group is the largest organized grower of banana in the world.

According to Drysdale, the group farms 3,000 hectare (has.) of banana and 100 has. of asparagus in Mindanao while its 250 has. mango orchard is located in Guimarias, Iloilo.

The firm’s main export markets are Japan, the Middle East, China and Korea.

Drysdale said the group is looking for a joint venture to expand its banana plantation by another 1,000 has.

He also said the group expects a 20-percent growth in income last year. "The group is expecting to increase its export shipment of its various produce from its current capacity of 12 million boxes to 18 million by the end of year 2002."

The Marsman Drysdale Group was founded in 1920 and has interests in agribusiness, food processing, medical equipment, telecommunications, tourism, mining and investment management.

It operates in Metro Manila, the Bicol region, Davao del Norte, Guimaras, South Cotabato and other major areas in the visayas and Mindanao.

The Marsman-Drysdale Group’s early gold mining operations paved the way for its diversification into other business activities, including agricultural production and export which has now become its core business.