Philip Morris International will buy Grupo Carso’s 20 percent share in Philip Morris Mexico (PMM)) for approximately $700 million. The purchasing price is subject to a potential adjustment based on PMM’s performance over three years ending two fiscal years after the closing of the purchase. The transaction, which will give PMI a 100 percent share [...]
Royal Agio Cigars has appointed Asia Marketing Services as its agent for the Asia Pacific region. Asia Marketing Services will be responsible for coordinating the sales and marketing efforts of the Agio Cigars brands in the Asia Pacific domestic and travel retail markets. “This strategic partnership with Asia Marketing Services will enable us to continue growing [...]
For more than a year, the system worked flawlessly. Containers of counterfeit cigarettes shipped from China to the ports of Newark, N.J., and New York City moved easily through customs and the U.S. Department of Homeland Security without inspection. From the docks, the cigarettes, falsely labeled as Marlboros and Marlboro Lights, made their way to [...]
Hoffmann Neopac has won a World Star Award for its Winston Avant Edition cigarette pack. The World Star Organization gives out awards annually for innovations in packaging. This year, more than 315 entrants competed. Previously, the Winston Avant Edition had won the German Packaging Award. According to Hoffman, the Winston Avant Edition has redefined cigarette [...]
Rhodia Acetow has been renamed Solvay Acetow. The change comes in the wake of Solvay’s acquisition of Rhodia in September 2011. The name Rhodia will continue to be used for certain products, including Rhodia Filter Tow, Rhodia DE-Tow, Rhodia Coloured Tow, Rhodia FilterSorb and Rhodia Acetol. Headquartered in Brussels, Belgium, Solvay became one of [...]
Universal Corp. reported net income of $106.6 million for the nine months ending Dec. 31, up from $66.3 million for the same period of the previous fiscal year. Revenues increased by 1 percent to $1.8 billion for the first nine months of fiscal year 2013, mostly as a result of higher volumes from carryover crop [...]
Alex Goldman has joined Swisher International as president of its new premium cigars division, Royal Gold Cigars. Goldman’s tenure began on Jan. 2, 2013, to spearhead the division specifically created to build upon his extensive industry experience. “Alex’s leadership of House of Oxford/Mom’s Cigars as its owner and president for the past 20 years positions [...]
“The tobacco lobby is not demonstrating enough transparency in the Dalli case*,” according to Inge Gräßle, MEP and EPP (European People’s Party) group co-ordinator in the European Parliament’s Budgetary Control Committee. [*John Dalli resigned in October as European Health Commissioner after allegations linked him to a businessman who allegedly approached Swedish Match and offered to [...]
Hauni Maschinenbau has opened an office in Izmir, Turkey. Led by Managing Director Baris Ulus, the new office offers customers access to a team of sales, service and technical professionals. Before joining Hauni in July 2012, Ulus worked for ThyssenKrupp in Turkey, where he held positions in sales, purchasing and logistics. Hauni cited Turkey’s position [...]
