Alliance One International said yesterday that its Brazilian subsidiary, Alliance One Brasil Exportadora de Tabacos (AOB), and China Tabaco Internacional do Brasil (CTIB), the Brazilian subsidiary of China Tobacco, had formed the joint-venture company China Brasil Tobacos Exportadora (CBT) in Brazil.
Fifty-one percent of the joint venture is owned by CTIB and 49 percent by AOB.
The joint venture’s administrative, buying and processing functions operate out of Alliance One’s facilities in Venancio Aires.
CBT, which has operated as an independent subsidiary of AOB for the past two crops, currently contracts with 9,500 integrated growers.
“We are honored that China Tobacco selected Alliance One for its first international joint venture in the tobacco leaf supply segment,” said Pieter Sikkel, Alliance One’s CEO and president.
“China Tobacco is a highly valued partner, and we are pleased with our combined efforts to grow CBT over the last two crops and see a very bright future.
“China’s cigarette market is the largest in the world, and our joint venture has been established to provide high-quality, sustainably grown Brazilian tobacco to its cigarette manufacturing groups.
“Our partnership aligns Alliance One’s strategy of profitable growth with meeting customers’ unique individual requirements through our sustainable model.”
Category: Breaking News