BAT has announced the acquisition, through a subsidiary company, of the remaining 57.8% of Reynolds American Tobacco. The acquisition, which has been approved byh shareholders of both companies, is expected to be completed by the end of the month. On the day if completion, the company will start trading on the New York Stock Exchange under the existing trading symbol BTI. Nicandro Durante, BAT chief executive, commented: “We are delighted …
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Santa Cruz, a subsidiary of UK-based cigarette manufacturer British American Tobacco, has announced the closure of production facilities at its Cachoeirinha location in Porto Alegre, Brazil. According to Correio do Povo, the move will see the factory itself closed down, although the research and development facility at the site will remain in operation. In a statement, Souza Cruz blamed the measure both on the impact of counterfeit goods in the …
Gama Innovation Award – Product MANCHESTER – 15th December 2015: The Gama Innovation Award – Product for December goes to Lucky Strike Double Click Cigarettes, a new flavour-changing launch from BAT in Poland. An attempt to make cigarette smoking a more interactive experience, Lucky Strike Double Click Cigarettes allow smokers to choose from two different flavours within the same cigarette. By clicking one of two different ‘buttons’ on the cigarette, consumers …
British American Tobacco (BAT) has announced the closing of its operations in Chile due to changes in tobacco regulations in the country, according to a report in ABC News. The move is said to be in response to new restrictions and requirements on cigarette companies in the country, including the banning of additives such as menthol and larger warning messages on packaging. The company commented on its decision by saying: …
British American Tobacco (BAT) has revealed that it is considering buying out the minority of its Brazilian unit, Souza Cruz SA, thus allowing it to take full control of the largest tobacco company in Brazil, according to a report in Bloomberg. BAT said that it was evaluating a possible public tender offer to acquire up to all of the 24.7% of Souza Cruz shares which are not currently owned by …
British American Tobacco (BAT) has reported its financial results for the 9 months ended 30 September 2014, posting what it described as “a good performance in a challenging environment”. The results demonstrated continued strong growth of the Global Drive Brands, good market share performance in key markets and a 1% decrease in volume, the company said. Revenue grew by 2.4% at constant rates of exchange, however movements in many of …
British American Tobacco (BAT) is to introduce a new ‘charge-on-the-go’ e-cigarette in a bid to tackle the problem of battery life in the category, Bloomberg reports. Due for launch in August, the new version of Vype eSticks can be continuously charged via the packaging, which users plug in overnight. Kingsley Wheaton, BAT’s director of regulatory affairs, said: “One of the problems with small batteries in small e-cigs is that the …
In a move that is set to shake-up the US tobacco market, Reynolds American Inc, the second-largest player in the country, has acquired the third largest, Lorillard Inc for $25 billion, or $27 billion including debt. Reynolds, which owns brands such as Camel and Pall Mall, will now get a stronger foothold in menthol cigarettes through Lorillard’s Newport brand, described by Reuters as a growing brand in a cigarette market …
According to media reports, British American Tobacco (Malaysia) Bhd’s profit before tax rose 3.3% in Q4 2013. The company recorded MYR 254.30 million ($77.7 million) profit in Q4 2013 compared to MYR 246.12m ($75.2 million) a year ago, due to growth in contract manufacturing volume for export and lower operating expenses. However, the domestic market income has been impacted by year-on-year volume decline. The company’s leading brand – Dunhill – …
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