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»All Archives | 3rd Quarter, Aug 05
Alliance One International reports full-year results
Alliance One International Inc. posted a net income of $13.3 million in the fiscal year that ended March 31, compared with a net loss of $18.8 million in the previous 12-month period.
Altria on track for breakup
During Altria’s annual shareholders’ meeting, CEO Louis Camilleri confirmed that the company is in the process of splitting into two or three separate businesses. Camilleri said the exact timing is still uncertain and depends on the litigation environment.
Avoid taxes on your tobacco buyout payment
1031 exchanges offer growers a way to delay the tax man.
Carolina Tobacco applies for MSA, files for Chapter 11
Carolina Tobacco Company (CTC) has applied to become a signatory to the Master Settlement Agreement (MSA).
DOJ slashes remedies sought in trial
During closing arguments, the Department of Justice (DOJ) shocked observers of the case by requesting only US$10 billion for a smoking-cessation program rather than the anticipated $130 billion.
Philip Morris USA to buy burley tobacco in Pennsylvania and Maryland
Philip Morris USA (PM USA) reports it has signed an agreement with Trileaf Services LLC, which will act as the cigarette manufacturer’s newest tobacco-receiving station operator.
Philip Morris USA to establish pilot program to assist growers in its Tobacco Farmer Partnering Prog
Philip Morris USA (PM USA) reports it will roll out a pilot cost-sharing program to assist eligible burley farmers who participate in the company’s Tobacco Farmer Partnering Program (TFPP) with the purchase of tobacco baling equipment.
Quota holders and growers started receiving tobacco buyout checks in July.
Seeds of growth
F.W. Rickard Seeds’ entrepreneurial spirit
The Africa challenge
Zimbabwe’s decline as a tobacco producer could create opportunities for U.S. growers. But other countries are hoping to cash in as well.