Universal Says 'Thanks' for Leaf Buyout

Source from:  Henderson (NC) Dispatch 11/01/2004

On behalf of Universal Leaf Tobacco Company Inc., the world's largest leaf tobacco dealer and processor, I want to thank the members of the North Carolina congressional delegation who voted for the FSC-ETI conference report, which contained a $10 billion tobacco quota buyout and eliminated the antiquated federal tobacco program. More specifically, Universal wants to thank Sen. Elizabeth Dole for her hard work ensuring that the U.S. Senate approved the buyout. In addition, Universal wants to acknowledge and thank Rep. Richard Burr for his diligent efforts on behalf of the buyout in the U.S. House of Representatives and as a vital member of the FSC-ETI conference committee. Without Burr's efforts on the conference committee, Universal is confident that a quota buyout would not have taken place and the tobacco program, which had become an albatross to growers across North Carolina, would not have been abolished. Indeed, because of Dole and Burr's work, Universal believes that growers who decide to continue producing tobacco will have the ability to operate much more efficiently and effectively. Just as important, Universal believes that Dole and Burr's work will help U.S. leaf tobacco become more competitive in the global marketplace - a key factor in stabilizing and, hopefully, increasing the amount of U.S. leaf tobacco purchased and used by cur domestic and export customers. W. Keith Brewer, president, Universal Leaf North America U.S. Enditem