Leading international tobacco company Japan Tobacco has announced a joint venture between the JT Group, through its subsidiary JTI, and the leading US tobacco firm Altria Group, through PM USA.
According to the Japan Tobacco’s press release, the join venture was formed to market and commercialise heated tobacco sticks (HTS) products in the USA, using Ploom devices and Marlboro consumables.
A long-term, non-binding global memorandum of understanding was signed to seek opportunities related to reduced-risk products (RRP).
Masamichi Terabatake, JT Group CEO and president of the tobacco business said: “As part of our strategic focus on HTS, we’re very enthusiastic to launch our Ploom brand in the U.S., the world’s largest RRP market in value, through our partnership with the market leader, Altria. We also look forward to entering into a long-term strategic collaboration with Altria to further explore global commercial opportunities in the RRP category”.
The deal will enable both groups to grow in the sector and to offer a wide range of reduced-risk products to adult consumer globally.
Source: PR Newswire