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Pax Labs raises $46.7 million in Series C funding

Pax Labs raises $46.7 million in Series C funding

| June 10, 2015

Pax Labs has raised $46.7 million in new funding led by existing investors with participation from Fidelity Management & Research Company; Sivia Capital; individual investors from finance, pharma, entertainment and Silicon Valley leadership; and a group led by Chuck Pieper and Brian Finn. Previous investors participating include Tao Capital Partners and Sand Hill Angels. Pax […]

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Iggesund expands services for Eastern Europe

Iggesund expands services for Eastern Europe

| June 10, 2015

Iggesund Paperboard—Europe’s third-largest manufacturer of high-quality virgin fiber paperboard—is expanding its services for Eastern Europe by establishing a new freight terminal in Riga, Latvia, as well as a sales office in Moscow, Russia, to boost Russian sales. Construction of the two new facilities is part of Iggesund’s long-term plan to cultivate its delivery services on […]

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AOI’s volume, sales impacted by global oversupply

AOI’s volume, sales impacted by global oversupply

| June 10, 2015

Alliance One International’s CEO and president, Pieter Sikkel, said on Monday that the company’s fiscal year 2015 volume and sales were impacted by global oversupply as a result of customers modifying their inventory positions in response to reduced consumer demand in some markets during the past 36 months. Global oversupply appeared now to be moving […]

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Leaf tobacco prices fall as growing costs rise

Leaf tobacco prices fall as growing costs rise

| June 10, 2015

Flue-cured tobacco growers operating in the Indian state of Andhra Pradesh are urging the union government to address immediately their concerns about a steep fall in sales this year, according to a story in the latest issue of the BBM Bommidala Group newsletter. The growers are said to be faced with making losses this year […]

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Most people support separate smoking areas in pubs

Most people support separate smoking areas in pubs

| June 10, 2015

The smokers’ lobby group, Forest, is urging the UK government to reject the ‘comprehensive package’ of anti-smoking measures published today by the NGO Action on Smoking and Health (ASH). Forest’s director, Simon Clark, said a tobacco levy – one of many proposals being made – would almost certainly be passed on to consumers and would […]

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Altria to host investor-day webcast

Altria to host investor-day webcast

| June 10, 2015

The Altria Group is due to host a webcast of its Investor Day in New York, N.Y, on June 23. The presentation, which will be in listen-only mode, will begin about 09:00 Eastern Time and end about 12:00. The webcast will feature presentations by Marty Barrington, Altria’s chairman, CEO and president, and other members of […]

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RAI to complete Lorillard acquisition on Friday

RAI to complete Lorillard acquisition on Friday

| June 9, 2015

Reynolds American (RAI) is expected to complete its acquisition of Lorillard on Friday. At the same time, Imperial Tobacco’s ITG Brands will acquire from RAI and Lorillard operating companies the KOOL, Salem, Winston and Maverick cigarette brands, and the blu eCigs electronic cigarette brand, along with other assets. In a note posted on both the […]

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NY state smoking rate down to 14.5 percent

NY state smoking rate down to 14.5 percent

| June 9, 2015

New York Governor Andrew Cuomo said yesterday that the state’s smoking rate fell last year to a historic low of 7.3 percent among high school students and 14.5 percent among adults, according to a story by Joseph Sector for the Democrat and Chronicle, relayed by the TMA. In 2011, smoking among high school students stood […]

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London cigar auction set for June 15

London cigar auction set for June 15

| June 9, 2015

C.Gars Auctions is due to hold its summer auction sale at The Bulgari Hotel in Knightsbridge, London, from 14.00 on June15. A press note from C.Gars said that the June auction would be the 15th such event since its auction department was established in 2009 ‘Auctioneer Jonathan Humbert will once again be conducting this important […]

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Exploring visions of security through paperboard

Exploring visions of security through paperboard

| June 9, 2015

In an industrial workshop in Strömsbruk, northern Sweden, multimedia artist Nils Olof Hedenskog is creating an installation that it is hoped will attract interest from art institutions around the world. The raw material he is working with is paperboard – specifically Invercote from Iggesund Paperboard. “For me there exists a tension between the limitlessness of […]

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Eastern looks to build Malawi plant within 18 months

Eastern looks to build Malawi plant within 18 months

| June 8, 2015

A project under which Egypt’s Eastern Tobacco Company is partnering with Malawi’s Auction Holdings Limited (AHL) to set up in Malawi a $20 million cigarette manufacturing plant is due to be completed within 18 months, according to a StarAfrica story. Late last month it was announced that the Malawi government and Eastern had signed a […]

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EU’s TPD implementation unaffected by court cases

EU’s TPD implementation unaffected by court cases

| June 8, 2015

The EU Commission has said it does not believe that current court cases brought against the new Tobacco Products Directive (TPD) pose obstacles to the directive’s implementation. The Commission was responding to a question by the Croatian MEP Dubravka Šuica. In part of the preamble to her question, Šuica said that some tobacco companies had […]

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Taxes on tobacco firms set to rise in Bangladesh

Taxes on tobacco firms set to rise in Bangladesh

| June 8, 2015

Smoking looked set to become costlier in Bangladesh during the new financial year after Finance Minister A.M.A. Muhith last week proposed imposing tax increases on tobacco products, acetate tow and tobacco-product paper, according to a story in The Financial Express. The budget proposals include too plans to increase the corporation tax levied on publicly-traded tobacco […]

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Alliance to host results conference call

Alliance to host results conference call

| June 8, 2015

Alliance One International is due to host from 08.00 Eastern Time on June 9 a conference call at www.aointl.com to report its financial results for the fiscal year ended March 31. A replay of the conference call will be made available from 11.00 on June 9 through 11.00 on June 14 by telephone at (888) […]

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Japan Tobacco International introduces new Camel

Japan Tobacco International introduces new Camel

| June 5, 2015

Japan Tobacco International (JTI) Korea has launched Camel Evolution Super Slims, the first low-tar super-slim brand within its Camel lineup. Camel Evolution Super Slims—which became available for purchase June 4—are a locally customized blend for the Korean market. The product is packaged in a stylish urban design that targets smokers between the ages of 25 […]

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Czech Republic approves ban on smoking in restaurants, bars

Czech Republic approves ban on smoking in restaurants, bars

| June 5, 2015

The Czech government has approved a draft bill that will ban smoking in bars and restaurants. Previous governments have attempted to enact the same restrictions but ran into opposition, leaving the Czech Republic as the last EU member to allow unrestricted smoking in restaurants. One quarter of Czechs smoke, according to Eurobarometer. “With this law, […]

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