Alliance One and China Tobacco in Joint Venture

Source from:  Tobacco Journal International  04/01/2014

Alliance One International and China Tobacco entered into a joint venture to source tobacco from Brazil as the next step in a cooperative venture begun two crops ago, the US leaf merchant said.
 
China Brasil Tobacos Exportadora SA (CBT) has operated as an independent subsidiary of Alliance One Brasil Exportadora de Tabacos (AOB) for the past two crops, and will become the vehicle for the joint venture. China Tabaco Internacional do Brasil (CTIB) will own 51 per cent of CBT and AOB 49 per cent. Joint venture administrative offices, buying and processing functions are located at AOB in Venancio Aires.

"China's cigarette market is the largest in the world, and our joint venture has been established to provide high quality, sustainably grown Brazilian tobacco to its cigarette manufacturing groups", said Alliance One Chief Executive Officer Pieter Sikkel. Enditem