Armenter acquires control of three subsidiaries; becomes one of world's largest tobacco producers.NEW YORK--(BUSINESS WIRE)--Feb. 4, 1997--Sebastian Armenter, chairman and chief executive officer of Armenter Cigar Holdings Inc., announced Tuesday that the company has acquired control of TAINSA Corp., (Tabacalera Agro-Industrial de Nicaragua) in Nicaragua. TAINSA, will now become one of three major operating subsidiaries of Armenter Cigar Holdings Inc. TAINSA Corp., the largest Cuban seed wrap cigar manufacturer in the world, was government owned until 1991 when it was bought out by its employees. The two additional operating subsidiaries of Armenter Cigar Holdings Inc. consist of 100% ownership of OMETEPE S.A., also located in Nicaragua, and 50% ownership of COMMERCIAL ARICO in the Canary Islands Canary Islands, Span. Islas Canarias, group of seven islands (1990 pop. 1,589,403), 2,808 sq mi (7,273 sq km), autonomous region of Spain, in the Atlantic Ocean off Western Sahara. They constitute two provinces of Spain. Santa Cruz de Tenerife (1990 pop. . TAINSA and OMETEPE own the land, farm, harvest and produce cigars in Nicaragua. COMMERCIAL ARICO is vertically integrated, owning production and manufacturing facilities in the Canary Islands. With its three major subsidiaries, Armenter Cigar Holdings Inc., has become one of the largest producers of tobacco in the world. In Nicaragua alone, the company owns and operates over 6,600 acres of tobacco fields and employs over 4,000 people, making it the single largest employer in the country. Armenter cigars, a premium brand, will be distributed in the U.S. by Armenter Cigars and sold at fine tobacconists as well as at the company's own retail shop and humidor hu·mi·dor n. A container designed for storing cigars or other tobacco products at a constant level of humidity. [From humid (on the model of cuspidor).] located at 1020 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , which also serves as the U.S. headquarters. Sebastian Armenter has appointed Craig Weiner, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Hubert Graf, executive vice president of Armenter Cigar Holdings Inc. Weiner and Graf reside in New York City. Weiner is the principal shareholder and founder of The Dalmatian Cigar Company Inc. exclusive distributor of La Dalmata and El Labrador cigar brands in the U.S. He is also a principal in Tinder Box Internationale, a high-end retail and wholesale cigar, pipe, cigar accessory and smoking lounge on Lexington Avenue and 48th Street in New York City. Weiner was previously a corporate attorney with Philips Nizer Benjamin Krim & Balloon LLP LLP - Lower Layer Protocol . He earned a B.S. in finance and economics from Lehigh University and his law degree from Albany Law School Albany Law School is an ABA accredited law school based in Albany, New York. Founded in 1851 by Robert H. Pruyn and others, Albany Law School is the oldest independent law school in the United States. of Union University. Hubert Graf is chief executive officer and creative director of GBBS GBBS Group B Beta Strep GBBS Generalized Binary Bent Sequence , an international advertising and marketing agency, which he founded. Graf has created numerous national and international award-winning advertising and image campaigns. His clients have included J.P. Morgan, Swissair, Corning Glass, Hilton International, The Economist Chase Manhattan and Penn Mutual, among others. Prior to founding GBBS, Graf was the marketing director of Swissair NA and a partner of Dolye Graf Mably, an advertising agency. Graf is a graduate of Kunstgewerbeschule of Zurich and Harvard Business School's executive program. Armenter, chairman of the board, will spend his time between Nicaragua, The Canary Islands and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . He was founder of Atlantis Cigars Ltd. The sole distributor of La Regenta S.A., a prominent manufacturer of premium quality cigars in the Canary Islands. Armenter earned his MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the University of Madrid and studied at Columbia University. He was president of the Flower Association of New York and was instrumental in relocating New York's Flower district to its present 28th Street site. CONTACT: Loving & Weintraub, New York Jill Eisenstadt, 212/935-1033 |
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