China: Regional corporation makes substantial progress in talks with Altadis USA Inc.

Source from:  TobaccoChina Online 10/27/2010

Sichuan-Chongqing Regional China Tobacco Industry Corporation - the operator of the tobacco industry in southwest China's Sichuan Province and neighboring Chongqing City - made substantial progress in talks on sub-agreements on bilateral cooperation held in Beijing on October 14-15, under the auspices of the Economic Operation Department of the State Tobacco Monopoly Administration. The talks this time were mainly based on the framework agreement on technological cooperation signed between the two sides in the beginning of 2010. During the talks, the two sides discussed specific aspects of bilateral cooperation in the supply of products and raw materials as well as the provision of technology, on the basis of sufficient talks held previously. Through the talks, the two sides preliminarily reached consensus on targets of cooperation on the supply of products, pricing of products in cooperation, use of raw materials, technological support, product sales, payment of fees, and other core issues, and signed a minute on the talks. The two sides are expected to sign a package of sub-agreements on bilateral technological cooperation by the end of 2010. Enditem