China；Ningbo Cigarette Factory to be Relocated to New Site

Source from:  TobaccoChina Online 09/19/2011

Ningbo Cigarette Factory - a key cigarette making enterprise under Zhejiang Provincial China Tobacco Industry Corporation in east China's Zhejiang Province - will be relocated to a new site in the Economic Development Area in Fenghua City of Zhejiang in the execution of a costly project of relocation and technological transformation. On September 13, Ningbo City Economic Development Areas Administration Commission announced that the over 4-billion-yuan (over 615-million-U.S.-dollar) project of relocation and technological transformation of Ningbo Cigarette Factory has been approved by the investment committee of the State Tobacco Monopoly Administration (STMA). Founded in 1925, Ningbo Cigarette Factory has an 86-year history of development. Presently, Ningbo Cigarette Factory covers a total area 111 mu (7.4 hectares) in Jiangdong District in Ningbo City, with a total construction area of 115,000 square meters. Ningbo Cigarette Factory has a workforce of 960, including 144 technicians of various specialties, and boasts 2.68-billion-yuan (412-million-U.S. dollar) worth of fixed assets. Leading competitive cigarette brands of Ningbo Cigarette Factory include Liqun, the Great Red Eagle and The Lion. In 2010, Bingbo Cigarette Factory produced 37 billion cigarettes (740,000 cases), and paid 8.198 billion yuan (1.26 billion U.S. dollars) in taxes. In order to introduce technologies for producing Chinese-style cigarettes, and increase the content of technology in its products, it has become imperative for Nongbo Cigarette Factory to start execution of the project of relocation and technological transformation. It was reported that the new site of Ningbo Cigarette Factory will have a total area of 740 mu (49.3 hectares). Construction of the new Ningbo Cigarette Factory will be started in the second half of 2012. When the project of relocation and technological transformation is completed, the new Ningbo Cigarette Factory is expected to be capable of generating over 20 billion yuan (3.08 billion U.S. dollars) in annual sales income, including over 15 billion yuan (2.3 billion U.S. dollars) in taxes. Enditem