Category Archives: Cigarette Manufacturers
BAT withdraws from Bulgaria cigarette maker sale
British American Tobacco has decided not to bid for Bulgarian cigarette maker Bulgartabak, citing market and strategic reasons, the privatisation agency said on Monday. BAT’s withdrawal leaves only Austria-registered BT Invest, controlled by Russia’s state bank VTB , eyeing a majority stake in the company, which has two cigarette mills and a tobacco processing plant. “BAT’s withdrawal does not make … Continue reading
Japan Tobacco to Pay $450 Million for Sudan Cigarette Maker
Japan Tobacco Inc. agreed to pay $450 million for a cigarette maker operating in Sudan and oil- rich South Sudan, which gained independence this month after a rebellion that lasted almost 50 years. Haggar Cigarette & Tobacco Factory Ltd. controls 80 percent of the market in Sudan and is “well established” in the Republic of South Sudan, the Japanese company … Continue reading
Safety of dissolvable tobacco products disputed
Tobacco company rep David Howard waxes enthusiastic when he talks about a new product his employer, R.J. Reynolds Tobacco Co., has developed: a pellet of finely cured tobacco, binders and flavoring that dissolves in the mouth in 10 minutes. Under test market in two U.S. cities — Denver and Charlotte, N.C. — Camel Orbs will join two dissolvable tobacco lozenges … Continue reading
Companies Get Tougher with Employees Who Smoke
Many companies use quiet incentives to encourage desired employee behavior, such as losing weight. Not Macy’s (M). Beginning on July 1, workers at the department store chain who admit to using tobacco will be surcharged $35 a month, or $420 a year, for health coverage. The extra cost will be deferred only if smokers enroll in a free quit-smoking class. … Continue reading
Lorillard profit rises 11% on higher prices
Lorillard Inc.’s second-quarter earnings rose 11% as the cigarette maker’s sales benefited from increased volume and higher selling prices. The No. 3 U.S. cigarette producer by revenue dominates the market for menthol cigarettes, which are increasingly popular with adolescents and young adults, though overall smoking rates have declined. Bigger rivals Altria Group Inc. (MO) and Reynolds American Inc. (RAI) last … Continue reading
Philip Morris Jacks Up Foreign Cig Prices, Smokes Up To $70
Philip Morris International, the world’s leading international tobacco company outside the U.S. and China, announce its Q2 2011 earnings on the 21st of July. PMI’s product portfolio boast of eight of the world’s top 15 brands, including Marlboro, the number one cigarette brand worldwide. Until a spin-off in 2008, Philip Morris International was an operating company of the Altria Group. … Continue reading
Cigarettes no longer No. 1 seller in commissaries
Cheese has overtaken cigarettes as the top selling item category in military commissaries, another milestone in the long slide of tobacco sales in those venues.By the end of April, cheese had edged out cigarettes with $106 million worth of sales in the previous 52 weeks, compared with $105 million for cigarettes, data from the Defense Commissary Agency show.Cigarette dollar sales … Continue reading
Earnings Preview: Altria Group Inc.
Altria Group Inc., owner of the biggest U.S. cigarette maker, Philip Morris USA, is expected to show rising profit when it reports its second-quarter results before the stock market opens Wednesday, even though Americans are still buying fewer cigarettes in the face of tax increases and rising health concerns. WHAT TO WATCH FOR: Whether Marlboro, the top-selling U.S. cigarette brand, … Continue reading
States close to deal with big tobacco companies
Big cigarette makers could recoup $2 billion under a proposed deal with state attorneys general to resolve a long-running dispute over payments required by the landmark 1998 tobacco settlement, the Wall Street Journal reported. Negotiators for Altria Group Inc’s (MO.N) Philip Morris USA and other tobacco companies have reached a tentative deal with officials representing the 46 states that signed … Continue reading
Tobacco Companies Aren’t Afraid of Grisly Labels
The top U.S. tobacco companies’ sales aren’t expected to go up in smoke despite new grisly warning labels that are set to appear on cigarettes packs next year. The graphic labels, which were released in June by the Food and Drug Administration and include an image of rotting teeth and gums, will cause a decline of less than one percent … Continue reading
