R.J. Reynolds Tobacco International Inc. announcement.ARMAVIR, RUSSIA--(BUSINESS WIRE)--NOV. 22, 1994--R.J. Reynolds Tobacco International, Inc. announced today that it has acquired a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in a cigarette manufacturing company in the Krasnodar region of southern Russia. RJR RJR R.J. Reynolds RJR Thorny Skate (FAO fish species code) Tobacco International said it has signed a final agreement with Armavirtabak Company in Armavir. Terms of the acquisition were not disclosed. Armavirtabak, now re-named RJR-Armavirtabak, currently has a capacity of 4 billion cigarettes annually and employs approximately 450 people. The Armavir agreement marks the sixth major acquisition by RJR Tobacco International in the former Soviet Union since June 1992. The company now has manufacturing facilities in St. Petersburg, Russia; Kremenchuk and Lviv, Ukraine; and Shimkent, Kazakhstan. In addition, earlier this year the company acquired the Yelets Experimental Tobacco Factory, a tobacco processing plant in central Russia. The acquisition of Armavirtabak gives RJR Tobacco International a strong base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army in Southern Russia. Armavirtabak is a medium-size producer of Russian Russian associated in some way with Russia. Russian blue a breed of cats with short, dense, silver-tipped blue-colored coat and vivid green eyes. cigarette brands. RJR Tobacco International will expand Armavirtabak's manufacturing capacity to include American-blend cigarettes such as North Star, which the company launched earlier this year at its St. Petersburg operation. RJR brands have developed a strong following in the former Soviet Union. Today, the company's international brands -- including Camel, Winston, Magna, More and Salem -- are among the top most popular Western cigarettes in the region. R.J. Reynolds Tobacco International, Inc. is an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of RJR Nabisco RJR Nabisco, Inc., was an American conglomerate formed in 1985 by the merger of Nabisco Brands and R.J. Reynolds Tobacco Company. RJR Nabisco was purchased in 1988 by Kohlberg Kravis Roberts & Co. in the second largest leveraged buyout in history, adjusted for inflation. , Inc., the sixth largest consumer-goods company in the world, with 1993 sales in excess of $15 billion. CONTACT: R.J. Reynolds Tobacco International Inc. Janis L. Fulton, 910/741-6995 |
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