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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:
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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.
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.
Cigarette maker Rothmans Inc., whose main operating subsidiary is being investigated by the Canadian police, earned sharply higher profits in its fiscal third quarter as the cigarette maker increased revenue and lowered its costs. . .
Rothmans also noted that the police are reviewing the business records of its 60 percent owned operating subsidiary Rothmans, Benson & Hedges Inc. related to tobacco smuggling in the early 1990s.
The police are examining RBH's books from 1989-1996, a period of high tobacco taxes, rising Canadian exports to the United States and smuggling of cigarettes back into Canada from the U.S.
"During this period, exports of tobacco products by all three major Canadian tobacco manufacturers increased significantly," Rothmans said. "Smuggling of tobacco products into Canada also occurred during this time. These products included products manufactured by RBH."
Canadian tobacco company Rothmans Inc., caught in a bidding war with R.J. Reynolds Tobacco Holdings Inc. for a small New Mexican cigarette maker, said Tuesday it doesn't plan to increase its offer for Santa Fe Natural Tobacco Co.
But Rothmans, which started the bidding for privately-held Santa Fe Natural in September, said it expects to receive an $11 million termination fee if R.J. Reynolds prevails.
``At present, Rothmans does not contemplate increasing the value of its enhanced offer announced on Nov. 30,'' Rothmans said in a statement Tuesday.
Canadian cigarette maker Rothmans Inc. (ROC.TO) on Friday trumped U.S.-based R.J. Reynolds Tobacco Holdings' (NYSE:RJR) counter-bid for Sante Fe Natural Tobacco Co. with a $353.7 million offer.
Rothmans said its enhanced offer for Santa Fe, a maker of American Spirit additive-free cigarettes, consists of $162 million in cash, or $57 million more than its original offer.
All other terms of Rothmans original offer remain the same including the issue of $105 million in Santa Fe debentures and 4.24 million Rothmans common shares with a value of $77.7 million.
R.J. Reynolds, the No. 2 U.S. tobacco company said on Nov. 22 it was offering $320 million in cash for Santa Fe, a bid that was $45 million higher than Rothmans' $275 million cash, stock and debt offer. The purchase of Santa Fe would help boost earnings and give an additional strong brand name to R.J. Reynolds, which currently sells Camel, Winston, Salem and Doral cigarette brands.
The revised offer is superior because the cash payout includes deferred incentive payments and requires no further due diligence, Rothmans said in a statement.
Rothmans said its 11 percent higher offer will allow Santa Fe to remain a stand-alone operation, and could close as early as January 2002.
R.J. Reynolds Tobacco Holdings Inc., the No. 2 U.S. tobacco company, offered $319 million for Santa Fe Natural Tobacco Co., topping a bid by Canada's Rothmans Inc. for the producer of organic cigarettes.
Rothmans, Canada's second-biggest cigarette maker, is considering raising its $275 million stock, cash and debt bid, which was announced Sept. 28, Rothmans spokesman John McDonald said. Closely held Santa Fe said its board will recommend the R.J. Reynolds offer to shareholders on Nov. 29 unless Rothmans antes up more, McDonald said.
Government restrictions on advertising make it difficult for tobacco companies to increase sales in Canada, pushing Rothmans to look south of the border. A purchase of Santa Fe would mark the first U.S. acquisition for the Toronto-based company, which controls about a quarter of the C$2.4 billion ($1.5 billion) Canadian tobacco market with brands such as Benson & Hedges and Craven `A.'
``We have just received within the last 24 hours notification, so we're looking at all of our options,'' McDonald said. He wouldn't elaborate.
Rothmans Inc. executives said Santa Fe Natural Tobacco Co., which Rothmans agreed to buy yesterday for $275 million, is a defendant in three tobacco- related lawsuits.
Plaintiffs in two of the cases are seeking class-action status for their complaints, while a third is an individual case, said Bob Carew, Rothmans' executive vice president and No. 2 executive. Santa Fe Natural sells cigarettes under the American Spirit brand and markets them as being free of chemical additives.
``We don't think the U.S. litigation (risk) applies equally to all U.S. tobacco companies,'' said Carew. ``We think that the companies that carried on business in the '50s and the '60s and into the '70s are at a much greater exposure level.''
Santa Fe Natural, which is closely held, started selling cigarettes in 1982.
Rothmans Inc. (T.ROC) has agreed to buy privately held Santa Fe Natural Tobacco Co. of Santa Fe, N.M. for US$275million in cash, shares and debt.
In a news release, the company said it also plans to increase its dividend if the acquisition is completed, and buy back 5% of its shares.
Rothmans Inc. (T.ROC) said the acquisition of Santa Fe Natural Tobacco Co. will add "significant" growth to revenues and immediately boost earnings. The move also diversifies its business away from Canada, the company said.
The hugely popular Symphony of Fire appears to be one of the first major casualties of new federal legislation that restricts advertising by tobacco companies.
Rothmans, Benson & Hedges Inc. has announced it will no longer sponsor the large firework displays held each year in Toronto, Montreal and Vancouver.
The company has told Ontario Place Corp., the host of the Toronto event, it is free to launch its own fireworks program. However, if the corporation does manage to find funding, it will have to come up with a new name -- "Symphony of Fire" is owned by Benson & Hedges.
The tobacco company also announced it is withdrawing sponsorship of the Toronto International Film Festival. . .
"We have proudly supported these events. It's a sad consequence, but the regulations have made it impossible for us to continue our support. It was a business decision." . .
"Due to the restrictions on signage and trademarks, we can no longer fully communicate with the public," said Mr. McDonald. . .
"It's disturbing that a small number of anti-tobacco activists can affect regulation and put events such as this in jeopardy," he added. "Polls have shown that tobacco signage does not influence a person's decision to smoke or not to smoke."
Due to the restrictions on signage and trademarks, we can no longer fully communicate with the public. . . It's disturbing that a small number of anti-tobacco activists can affect regulation and put events such as this in jeopardy. . . Polls have shown that tobacco signage does not influence a person's decision to smoke or not to smoke.John McDonald, spokesman for Canada's Benson & Hedges. Hiller, S., <I>Tobacco firm ends funding of Symphony of Fire</I>