A Russian health ministry proposal to ban the sale of tobacco products to people born after 2015 has met with opposition from tobacco producers.
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 […]
The Crimean government has announced that a visiting delegation of Chinese businessmen intend to invest in tobacco cultivation within the territory, which was annexed by Russia in March 2014. Chinese equipment and technology would be supplied to the semiautonomous territory, which has been fighting to secure foreign investment amid trade sanctions imposed by Ukraine, the […]
Philip Morris International and Japan Tobacco International are acquiring equity stakes of 20 percent each in Megapolis Distribution, the holding company of CJSC TK Megapolis, a major distributor in Russia. The companies are paying $750 million each for their stakes. If Megapolis’ operational performance meets certain benchmarks during the four fiscal years following the closing […]
Tobacco factories feature prominently on a list of leading Russian exporters recently published by Expert Severo-Zapad. According to the business magazine, British American Tobacco in St. Petersburg leads the pack with export revenues of $91.9 million last year. Philip Morris Izhora exported tobacco products worth $70.9 million in 2012, up 15.1 percent from the previous. […]
Russian cigarette maker Donskoi Tabak on Nov. 20 reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of RUR1.86 billion ($ 59.3 million) in January-September 2012, up 26 percent from a year ago, reports Prima-Tass. Net revenue jumped 71 percent year-year to RUR19.7 billion, volumes rose 2 percent to 23.5 billion cigarettes, and the company’s […]