General Tobacco Makes Full Annual Payment of More Than $73 Million to Master Settlement Agreement

Source from:  Business Wire 04/16/2009

Vidal Suriel, founder and president of North Carolina-based General Tobacco (GT), announced today a payment to the Master Settlement Agreement (MSA) in the amount of $73,876,915 as payment in full for its current obligation that is due today. The payment comes as part of GT`s commitment to the multi-state agreement by tobacco companies setting forth strict guidelines for tobacco marketing and advertising. Since joining in 2004, GT has contributed more than $546 million to the MSA. "General Tobacco has once again shown its commitment to supporting the policy provisions set forth under the MSA," said J. Ronald Denman, Executive Vice President of General Tobacco. The MSA reimburses the states for medical expenses associated with cigarette smoking, and to fund youth smoking prevention programs. "Our goal of providing existing adult smokers with quality tobacco products at value-oriented prices has proved to be profitable in these difficult economic times," Denman added. GT has recently introduced its new American Blend and is proud that all their products are now made in the U.S. The company also recently launched 32 degrees with natural menthol flavoring, announced the addition of Vaquero filtered cigars, and redesigned all of its product packaging with a bolder emphasis on its made in the USA origin. General Tobacco, the sixth largest tobacco company in the nation with approximately $300 million in annual sales, is a full participating member of the Master Settlement Agreement. The company began its operation in 2000 distributing its own cigarette brand, GT One. Because of the popularity of this value-priced, excellent quality product, the company now distributes Bronco, Silver, Vaquero Little Cigars, and their new premium menthol cigarette, 32 Degrees. As one of the largest tobacco companies in the country, General Tobacco continues to hold a leading position in the value-priced cigarette market. Its mission is to distribute superior quality tobacco products at competitive prices. Enditem