Concha y Toro Tumbles as Quake Damages Vineyards
Concha y Toro Tumbles as Quake Damages Vineyards
Mar 2, 2010 6
(Bloomberg) -- Vina Concha y Toro SA, Chile’s largest winemaker, headed for the biggest decline in eight months after the company said the weekend’s 8.8-magnitude earthquake forced it to suspend production for at least a week.
Concha y Toro plunged 7.2 percent to a two-month low of 1,100 pesos at 1:30 p.m. New York time after slumping 2.3 percent yesterday. The Santiago-based winemaker, which has vineyards near the quake’s epicenter in central Chile, said in a statement yesterday that it was “temporarily” halting “all of its logistic and production operations.”
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