AMERICAN BRANDS TO CUT TIES TO CIGARETTE INDUSTRY.Byline: Daily News Wire Services American Brands Inc., once one of America's largest cigarette makers, said Tuesday it wants to kick the habit and concentrate on selling locks, bourbon and golf balls. The company will spin off its British-based Gallaher tobacco unit and change its own name to Fortune Brands. It would be the first major cigarette company to completely cut ties to the tobacco business. American Brands' shares rose nearly 8 percent on the news, jumping $3.62-1/2 a share to $48.12-1/2 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . By separating itself from Gallaher, Britain's largest cigarette maker, American Brands will lop LOP - A language based on first-order logic. ["SETHEO - A High-Perormance Theorem Prover for First-Order Logic", Reinhold Letz et al, J Automated Reasoning 8(2):183-212 (1992)]. almost $6.5 billion from its annual revenue base. The company will remain a $4.5 billion manufacturer of products as diverse as Moen faucets, Master Locks, Titleist and Cobra golf equipment and Jim Beam Jim Beam is a brand of bourbon whiskey, distilled in Clermont, Kentucky. This brand of whiskey has been distilled since 1795. The Jim Beam brand is owned by Beam Global Spirits & Wine, which is in turn owned by holding company Fortune Brands. bourbon.The Old Greenwich Old Greenwich is a neighborhood or section in the southeast corner of Greenwich in Fairfield County, Connecticut, United States. The Old Greenwich Railroad Station serves commuters in the neighborhood. , Conn.-based firm has been in the tobacco business since 1864. It began its exit in April 1994, when it sold the American Tobacco Co., maker of Lucky Strike and Pall Mall Pall Mall (pĕl mĕl, păl măl), street in the City of Westminster borough, London, England. It is the main thoroughfare of St. James's district. St. James's Palace, Marlborough House, and a number of private clubs are on Pall Mall. , to BAT Industries for $1 billion. |
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