Newly Incorporated Leaf Tobacco Redrying Company Goes Into Operation

Source from:  Bijie Prefecture 09/15/2005

Shuntai Leaf Tobacco Co., Ltd. - a newly incorporated leaf tobacco threshing and redrying enterprise based in Bijie Prefecture of southwest China's Guizhou Province - went into operation on September 1 following conversion into a joint-stock company on the basis of the former State-run Bijie Prefecture Leaf Tobacco Redrying Factory. Established in 1977, the former Bijie Prefecture Leaf Tobacco Redrying Factory was the only leaf tobacco redrying enterprise in Bijie Prefecture. It has experienced the several phases of redrying leaf tobacco by microwave, steaming, stringing and threshing, with the annual processing capacity increasing to over 1 million dan (over 50,000 tons) from the level of 200,000 dan (10,000 tons). In accordance with the policy of the State Tobacco Monopoly Administration (STMA) on structural reform of China's tobacco industry, Bijie Prefecture Leaf Tobacco Redrying Factory was stripped of the independent corporate status in 2004. In March 2005, the process to convert Bijie Prefecture Leaf Tobacco Redrying Factory into the joint-stock Shuntai Leaf Tobacco Co., Ltd. was started. With the support of the STMAS, Guizhou Provincial Tobacco Monopoly Administration and relevant tobacco manufacturing enterprises, the conversion was well accomplished before the leaf tobacco harvesting season. With 300 million yuan (36 million U.S. dollars) in registered capital, Shuntai Leaf Tobacco Co., Ltd. is a specialized leaf tobacco threshing and redrying enterprise with investment from seven entities - Bijie Prefecture Tobacco Company, Zhejiang Provincial China Tobacco Industry Corporation, Shanghai Tobacco Group, the Orange Tree Tobacco Group, Guangdong General Cigarette Factory, Huaiyin Cigarette Factory and Nanjing Cigarette Factory. Enditem