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J.P. Morgan in a review of the tobacco sector upgraded UST Inc. (UST) to neutral and Altadis SA to overweight and cut Rothmans Inc. to underweight.
Its top pick in the sector remains Japan Tobacco, the brokerage added.
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On February 25, 2005, Imperial Tobacco Canada Ltd. together with Rothmans Benson & Hedges Inc. and JTI-Macdonald Corp. filed a joint submission with the government in response to the Consultation Document. To learn more about Imperial Tobacco Canada Limited’s position, the Consultation Document may be accessed:
A Quebec court began hearings Thursday to decide if it will allow two class-action lawsuits that could wring billions of dollars in damages from Canada's top three tobacco companies.
Jean-Yves Blais and the Quebec Council on Tobacco and Health launched a lawsuit in 1998 against Imperial Tobacco, RJR-MacDonald and Rothmans, and Benson & Hedges.
They're seeking $100,000 in damages each for up to 45,000 Quebec smokers who have suffered from smoking-related illnesses such as emphysema and cancer of the lung, throat and larynx.
The government yesterday gave six companies and estate firms 90 days to give up more than one million hectares of land in a fresh campaign to seize corporate-owned land . . .
The government has in the last three weeks seized Mawere's multi-million dollar asbestos mines and other ventures after falling out with the businessman. The Zimbabwe Stock Exchange-listed Mashonaland Holdings is set to lose Eyrecourt farm and Acorn Estates to the state, while the Zimbabwe Tobacco Association, which brings together the country's mostly white large-scale tobacco growers will have to give up its 605 809 hectare farm on the outskirts of Harare. Cigarette maker, Rothmans will also have to surrender to the state 100 313 hectares of land in Lochinvar, just outside Harare city centre. The government did not give reasons why it was now turning on corporate-owned farms most of which are productive commercial ventures or were being reserved for expansion purposes.
The first of the 35 millionaires to be made courtesy of the Rothmans' Collect It promo emerges from Enugu State
Samuel Orji, a trader from Enugu State, has won the grand price of one million naira after he emerged winner in the Rothmans, Collect It promo. This he won upon presentation of all four inserts- Sow it, Grow it, Select it and Perfect it.
Victor Rangaka, head, consumer marketing, British American Tobacco, BAT, presented the prizes to Orji at a colourful ceremony held in Lagos recently. He said the aim of the promotion was to ingrain the product story in the minds of Rothmans smokers.
Tobacco cash has been used to support a branch of an organisation which is dedicated to promoting the quality of life and well-being of older people and advocates positive healthy ageing.
British American Tobacco, which makes cigarette brands such as Benson & Hedges and Rothmans, has donated $5000 this year to Flaxmere Age Concern - one of the Hawke's Bay local Age Concern branches.
TOBACCO firm Rothmans has pledged to leave a legacy for the hundreds of workers who will lose their jobs at its North-East plant.
Bosses at parent company British American Tobacco (BAT) have been under pressure since announcing the Darlington plant is to close next year.
A study into the impact on the town is due to be published soon. It is thought that BAT is saving about 70m a year by shutting the plant, which employs 490 people.
The town's MP, Alan Milburn, said last night: "People in this town have worked for Rothmans and put a huge amount into that company and I believe the company owes them something.
"The decision to close the plant seems irrevocable, but I do believe the company now needs to consider how it can best compensate the workforce and the rest of Darlington."
Doris Micallef will be enjoying an all-inclusive cruise for two around the Caribbean after winning the Rothmans Trade Fair competition.
Central Cigarette Co Ltd’s distribution and market services manager Mario Grech presented the trip on the magnificent Voyager of the Seas to Ms Micallef.
“Throughout the period of the trade fair, all customers who purchased Rothmans cigarettes were given a lottery ticket with each packet.
Canadian-listed tobacco firm Rothmans International, which is linked to Rembrandt founder Anton Rupert, has reportedly been cited as a defendant in an apartheid lawsuit, but not yet served papers.
Business Day reported on Monday the firm, which was born as a consolidation of Rembrandt's foreign tobacco interests, said in commentary on its annual financial results it had heard it was being cited, but repeated its belief that the lawsuit was unfounded.
Rothmans said it planned to "vigorously defend the actions," and said it did not believe it should have been named in the proceeding as "neither the company nor Rothmans Benson and Hedges have conducted business in SA".
Rothmans International, the tobacco company with links to Rembrandt founder Anton Rupert, has apparently been dragged into the apartheid lawsuits saga, but confusion reigns over who is suing the company.
Although the SA government was previously noncommittal on the lawsuits being lodged in the US to claim damages as reparations for apartheid, President Thabo Mbeki recently spoke out against the litigation. . .
The Canadian-listed Rothmans International has heard that it is being cited as defendant yet has not been served with papers.
The bad old days of cigarette smuggling and steep tobacco taxes are back in Canada, and they are taking a heavy toll on the earnings of Rothmans Inc., the tobacco company said yesterday.
In June, the Canadian government and several provinces hiked taxes on tobacco by as much as $5 a carton in an effort to further reduce the number of people taking up smoking.
The result, according to Rothmans and others in the industry, has been a steady shift of customers to lower-cost brands and a resurgence in the cross-border smuggling that ran rampant in the early 1990s.
The Canadian maker of brands such as Benson & Hedges and Craven A cigarettes reported that fiscal third-quarter profit dropped to $21.1-million, or 63 a share, from $24.6-million (74) in the same period a year ago.
The Commerce Commission has settled out of court with British American Tobacco Holdings (New Zealand) Limited (BAT) for alleged breach of the former section 47 of the Commerce Act. The settlement includes divestment of certain international cigarette brands with an estimated net present value of $10 million, plus a contribution of $350,000 to the Commission's costs.
The Commission alleged that following the global merger in 1999 between BAT and Rothmans International BV and their subsidiaries, the New Zealand companies acquired a dominant position in the New Zealand markets for tobacco products and pre-rolled cigarettes. The Commission issued proceedings in July 2001 seeking orders for divestment of shares or cigarette brands and pecuniary penalty.
Commission Chair John Belgrave said the settlement resolves a case that raised some important issues under the Commerce Act, not least of which was the application of the Act to off-shore business acquisitions.
British American Tobacco's New Zealand operation has agreed to give up seven cigarette brands and pay the Commerce Commission $350,000 as a result of its merger with Rothmans International in 1999.
The commission has settled out of court over an in which the regulator alleged breach of the former s47 of the Commerce Act, which prevents companies from acquiring dominant market positions.
The five brands to be divested, Sportsman, Cameo, Pacific, Topaz, North Pole, Matinee and Three Castles, have an estimated net present value of $10 million.
Commission Chairman John Belgrave said the settlement resolves important issues under the former Commerce Act "not least of which was the application of the Act to offshore businesses."
The Commerce Act was updated in mid-2001 with the test of anticompetitive behavior extended to cover acquisitions that strengthen a dominant position. The old Act only prohibited acquisitions that resulted in dominance.
But British American Tobacco argued the New Zealand transaction was just a reconstruction of the two companies which were already under common control following the merger, according to the commission.
The tobacco maker continues to deny any liability under the Commerce Act but as part of the settlement will pay NZ$350,000 towards the regulator's costs.
A legal stoush between tobacco giant British American Tobacco and the Commerce Commission has ended with an out-of-court settlement and a $350,000 payment from the cigarette maker.
At the heart of the dispute was whether the local effects of a global merger fell foul of the Commerce Act, which prohibits the acquisition of a company if it gives a dominant market position.
The case began in 1999, when British American merged with Rothmans in New Zealand, after a merger of their parent companies.
As part of its settlement announced yesterday by the commission, BAT has agreed to sell some of its brands - Sportsman, Cameo, Pacific, Topaz, North Pole, Matinee and Three Castles - which the commission says have a combined net value of $10 million.