Lorillard Stock Joins NYSE

Source from:  The Business Journal of the Greater Triad Area June 10, 2008  06/11/2008

Greensboro tobacco company Lorillard Inc. began trading on the New York Stock Exchange under the stock symbol "LO" today as its own independent company. Lorillard had been a wholly owned subsidiary of Loews Corp, based in New York, since 1969. Loews issued a tracking stock, Carolina Group, in 2002 tied to the performance of Lorillard in preparation of spinning the company out on its own. "This is a great day for all Lorillard employees and share owners, as together we begin to write the next successful chapter of our history," said Martin Orlowski, chairman, president and CEO of Lorillard. "As an independent company we are now able to pursue our growth strategy and opportunities unique to our markets." For 2007, Lorillard reported about $4 billion in sales, up 5.7 percent from the previous year. The company reported a 10 percent overall market share. Lorillard makes all its products, including Newport and Kent, at its Greensboro facility. Enditem