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UNIVERSAL COMPLETES PURCHASE OF NYIDOFER STOCK

    RICHMOND, Va., Aug. 13 /PRNewswire/ -- Universal Leaf Tobacco Company, Inc., today announced that it had completed the purchase of a majority of the stock of Nyidofer Tobacco Processing Company.  Located in Nyiregyhaza, Hungary, the formerly state-owned company was privatized through a tender process under the auspices of the Hungarian State Property Agency.  The largest leaf tobacco company in Hungary, Nyidofer processes over 75 percent of Hungarian tobacco production and supplies all four of the country's cigarette manufacturers.  Nyidofer has more than 400 employees and contracts annually with approximately 10,000 tobacco producers throughout Hungary.
    Henry H. Harrell, chairman and CEO of Universal Leaf Tobacco Company, Inc., said:  "We are extremely pleased to be associated with the premier leaf tobacco company in Hungary.  This represents an important step in our strategy for growth in Eastern Europe."
    -0-             08/13/93
    CONTACT:  O. Kemp Dozier of Universal, 804-359-9311
    (UVV) CO:  UNIVERSAL LEAF TOBACCO IN:  TOB ST:  VA


-- DC008 -- X571 08/13/93
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Publication:PR Newswire
Date:Aug 13, 1993
Words:160
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